A ruthless, manipulative man (Billy Bob Thornton) meets a small town insurance salesman (Martin Freeman) and sets him on a path of destruction.

Molly inizia a sospettare che Lester sia coinvolto negli omicidi, ma il suo nuovo capo la indirizza in un'altra direzione. Nel frattempo Malvo studia un ricatto ai danni di un uomo conosciuto come il Re del Supermercato.

Malvo flips the script on the blackmail operation, Molly sets a trap, and Gus debates whether he should come clean. Lester’s return to work has complicated repercussions.

When Gus tries to right a wrong, Malvo embraces his alter ego. Lester finds himself in a surprising situation, and Molly uncovers a promising lead.

When Lester has a close call, Molly makes an unorthodox decision. Gus weighs some neighborly advice, and Malvo gets what he wants.

Malvo executes his master plan, while Lester attempts to craft one of his own. Gus and Molly team up in Duluth.

Malvo seeks answers, while Lester finagles a few of his own. Molly and Gus try to get past a setback in the investigation.

Molly faces pressure to close the case, while Lester starts to feel like a new man.

Lester has an unexpected encounter, Malvo changes course, and a new investigation leads Molly down a familiar path.

Molly takes the lead, while Gus pursues a hunch. Lester manipulates a situation, and Malvo finds a new target.