At mid-afternoon on Christmas Eve in Wichita, Kansas, mob lawyer Charlie Arglist (played by John Cusack) and the shady businessman and pornographer Vic Cavanaugh (performed by Billy Bob Thornton) pull off a daring heist, stealing over $2 million from their ruthless mob boss, Bill Guerrard. Just when they think their getaway will be smooth, they discover that the roads are dangerously icy, complicating their escape. After securing the cash, the duo separates in an effort to avoid the wrath of Guerrard, who quickly becomes aware of their betrayal.
In a twist of fate, Charlie visits Sweet Cage, a local strip club owned by the enticing Renata Crest (played by Connie Nielsen), a woman he has long desired. However, Renata is facing a crisis as a new law threatens to shut down strip clubs after the year ends. Seeing an opportunity, Renata asks Charlie to retrieve a compromising photo of a local politician, which she can use as blackmail to keep her business running. She hints that if he helps her, their relationship could take a romantic turn.
While hiding from a pursuer in the club's bathroom, Charlie stumbles upon the phrase "> As Wichita Falls, So Falls Wichita Falls" scrawled on the walls, signifying the poignant struggles he faces. After narrowly escaping detection, Charlie attempts to warn Vic about the imminent danger through frantic calls, which Vic dismisses.
Charlie's escapades grow more frantic as he travels to another club associated with Guerrard, trying to retrieve the photograph. Along the way, he faces numerous obstacles, including an encounter with Officer Tyler, who ominously suggests he remember him to Guerrard. During these wild encounters, Charlie starts building a connection with the staff, even showing kindness to a stripper, which becomes noteworthy.
In a deepening web of chaos, Charlie helps his old friend Pete, whose drunken admissions about Charlie's ex-wife stir up unresolved emotions. The tension culminates when Charlie is caught in the crossfire of Vic's escalating lifestyle, and he becomes embroiled in a series of deadly confrontations. Vic's life takes a tragic turn when he suffers a shocking fate, leaving Charlie to grapple with the aftermath and the mystery of the missing money.
As Charlie navigates these perilous situations, he makes a desperate call to Renata and discovers that their fates are inexplicably intertwined. Faced with danger at every corner, Charlie is forced to confront shocking truths about betrayal and redemption. He finally confronts the mob boss while attempting to rescue Renata, leading to a high-stakes showdown where loyalties are tested, and lives are at risk.
In the haunting aftermath, Charlie reflects on his choices, realizing the complexities of his relationships and the true meaning of the phrase he's been inscribing. On Christmas morning, a changed Charlie drives away with his future uncertain but filled with new possibilities. In a bittersweet twist of fate, he encounters his children during a moment of kindness, leaving behind a legacy of hope as he contemplates his past and embraces the unknown journey ahead.
As he pulls out a red Sharpie and scribbles “As Wichita Falls, So Falls Wichita Falls” on the back of a camper, the weight of his choices looms large. Just as he drives off with Pete, who stirs awake in the back seat, they share a moment of camaraderie. Together, they set forth to carve out a different path, cautiously optimistic for a new beginning amidst the remnants of chaotic decisions.
