In an alternate reality where superheroes have profoundly influenced the political history of the United States, most masked vigilantes have disappeared or been forced to abandon their activities. When one of them, the Comedian, is found dead, Rorschach suspects a conspiracy targeting former heroes. His investigation leads him to reconnect with several figures from the past, including Nite Owl, Silk Spectre, Ozymandias, and Doctor Manhattan. As international tensions bring the world closer to nuclear catastrophe, their personal histories and choices reveal a far more complex vision of heroism, power, and the price that may have to be paid to preserve peace.