Rich playboy Drogo Gaines is in imminent danger of marrying a gold digger, and escapes by feigning insanity. The joke's on him when he wakes up in an asylum full of comical lunatics. There he befriends Colonel Carraway, and together they escape, catching a ride with a beautiful blonde who proves to be Penguin Moore, carnival owner.

Timid milkman, Burleigh Sullivan, somehow knocks out a boxing champ in a brawl. The fighter's manager decides to build up the milkman's reputation in a series of fixed fights and then have the champ beat him to regain his title.

Hildy Johnson is an investigative reporter looking for a bigger paycheck. When an accused murderer escapes from custody, Hildy sees an opportunity for the story of a lifetime. But when he finds the criminal, he learns that the man may not be guilty. With the help of his editor, Hildy attempts to hide the convict, uncover the conspiracy and write the scoop of his career.