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After inventing an anti-gravity device called the Contragrav, scientist Thomas Edmunds and his daughter, Mary, attend the National Air Races in Cleveland, Ohio in search of a pilot to demonstrate the device and Bob Raymond, from the U.S. Border Patrol, is chosen. Unbeknownst to Edmunds and Mary, Mortimor Crome, who is the owner of the International Import and Export Company and a friend of Mary's, is actually the leader of a gang of smuggler's and is after Edmund's invention. During the demonstration at the air meet, Bob Raymond narrowly escapes death after his aircraft is sabotaged by Mortimer Crome and one of his cronies. This leads to Raymond being all-in and coming to Edmunds aid in foiling Crome's plans and ultimately defeating him, using another of Edmund's inventions, which was a superplane, called the Phantom.