The story unfolds in 1986 at a gun show in Toledo, Ohio, where Rick Wershe Jr. (Richie Merritt), a teenage enthusiast, is inspecting AK-47 rifles. During a deal with the vendor, he uncovers that the firearms differ from the claimed Russian variants, leading to a successful bluff with his father, Richard Wershe Sr. (Matthew McConaughey), that earns them a discount. Upon returning to their home in Detroit, Michigan, the dynamics of their household are revealed as Richard, a small-time arms dealer with aspirations of running a video rental store, navigates their family's chaos with Rick trailing behind him.
Their life takes a turn when, upon arriving home, they discover Dawn (Bel Powley), Rick's sister, in a compromising situation with her boyfriend, Ty. The uncomfortable family drama intensifies when their grandparents witness the unfolding scene, leading to a lighter moment as they all go out for custard.
Later, as Richard works on crafting silencers, he shares insights about "up-selling" with Rick. This new knowledge leads Rick to successfully sell the AKs to local gang members, gaining respect from their leader, Johnny Curry (Jonathan Majors). However, Rick's journey into the gang realm signifies a shift in his teenage life, fueled by parties and roller skating nights amid the atmosphere of danger and corruption.
When Rick's sister Dawn decides to leave home for Ty, trouble looms when the FBI begins to investigate Richard, revealing a connection between their arms deals and the gang’s illicit activities. Agents Alex and Frank confront Richard about the consequences of his actions, pushing Rick into a corner where he unwittingly reveals more than he intends.
The stakes rise when Rick finds himself coerced into cooperating with the FBI, agreeing to make drug purchases to assist in their investigations. As he delves deeper into the underbelly of the drug world, Rick begins selling cocaine, leading to a surge in his lifestyle. His affiliation with the gang allows him to enjoy new experiences, including his attendance at Curry's wedding to Cathy, and ensuing chaos following a boxing event in Las Vegas.
Tragedy strikes when a drive-by shooting, involving a young boy's death, turns public scrutiny toward the gang. As law enforcement closes in, Rick's life spirals further out of control—culminating in a stab wound inflicted by a fellow gang member, trailing him into a hospital stay that alters his trajectory.
Upon recovering, Rick's entanglements only grow, with dreams of providing a better life for his family leading him into deeper involvement with the drug trade, culminating in a clash of family responsibility and criminal life. The twist of fate comes when Rick learns of his daughter, Keisha, born to his crush, Brenda.
His relationship with Curry’s wife, Cathy, complicates matters further when the FBI sets a sting operation, resulting in Rick's arrest for drug possession. Despite the hope of reduced sentencing, Rick is ultimately sentenced to life in prison, with his father confronting the brutal reality of their failed dreams.
Fast forward, and Dawn and Richard visit Rick in prison. Through heartfelt exchanges, the weight of lost time and opportunity is palpable. Over three decades pass, during which Rick becomes known for having the longest prison term for a non-violent offender in Michigan. His release in 2017 introduces a bittersweet conclusion to his story—a reunion with his family, who have moved forward.
As the credits roll, a poignant recording of the real Rick Wershe Jr. echoes, emphasizing his enduring sense of hope despite the tumultuous past, showcasing that even in confinement, the spirit of resilience shines bright.