Four talented magicians—J. Daniel Atlas, an illusionist; Henley Reeves, his former assistant and escape artist; Merritt McKinney, a hypnotist and mentalist; and Jack Wilder, a street magician and pickpocket—are brought together by a mysterious benefactor. A year after receiving tarot cards with a date and location, they reemerge as "The Four Horsemen," sponsored by insurance magnate Arthur Tressler. During their high-profile Las Vegas performance, they seemingly rob a bank in Paris from the stage and distribute the stolen money to the audience, framing it as an act of modern Robin Hood-style justice.

FBI Special Agent Dylan Rhodes is assigned to the case with Interpol detective Alma Dray. Although skeptical of the illusion, Rhodes and Dray are forced to work together to unravel the mystery behind the heist. As The Four Horsemen continue their elaborate performances in New Orleans and New York, promising more astonishing feats, the law enforcement duo finds themselves always one step behind. The magicians stay ahead with misdirection and showmanship, while the pursuit becomes intense. A game of cat and mouse ensues as Rhodes and Dray delve deeper into the magicians' world, questioning how much of what they’re seeing is illusion and what is reality.