The plot is in the near future (2020), this time the Death Race is a globally popular televised race that has high risk prisoners driving tricked out cars armed with weapons on a racetrack that's part of a prison complex called Terminal Island, and run by the prison warden.

The race's rules are that after 5 wins you get your freedom. The cars race around (unarmed to start) after gaining points by hitting other cars or driving over giant buttons on the track the drivers can access weapons for their vehicles. The cars are all real world cars that have been modified with armor plating.

The film opens with a race in which the fan favorite, the masked Frankenstein wins his fourth race but at the cost of his car exploding and being killed. But of course the fans all think he is still alive, but only seriously injured. It turns out that there have been several Frankenstein's, and since his popularity makes millions in ad revenue and merchandise for the prison and the global corporation that runs it, many drivers have worn the mask to be Frankenstein.

The film follows a former race car driver named Jensen who is framed for his wife's murder and through the manipulations of the warden is sentenced to Terminal Island. He is forced into assuming the role of Frankenstein, in the hopes to win one more race and gain his freedom.