Plot hole: Prior to the final show, when the horsemen are performing separately at different locations in London. [Scene X] Jack is busy with his card swap trick. While others are doing their tricks too, [Scene Y] McKinney is believed to be tricked once again by his face sharing brother at another location... Dylan gets a call and then he calls everyone to wrap up and meet somewhere. [Scene Z] Jack also wraps up and leaves the place... OK. Later after the expose in final show McKinney tells the story about how Jack successfully hypnotized his brother [in the Scene Y]. How could Jack be at two different locations at the same time? He was performing somewhere else when he did hypnotism at another location and then wraps up his trick back where he started.
Factual error: When Lula is performing her dove tricks in London she's standing by Cutty Sark, a historical ship museum in Greenwich. Greenwich is south of Thames river. When Walter and his company are showing the positions of the Horsemen on the map of London all of them are shown north of the Thames.
Continuity mistake: When Dylan is leaving the prison with Thaddeus, it is night time. But later on in the movie, when the FBI director and Agent Cowan are watching the CCTV footage of Dylan and Thaddeus leaving the prison, the time on the CCTV shows them leaving the prison at 14:10, the middle of the day.
Character mistake: Dylan is showing Agent Cowan and the FBI director the pictures of the pigeons and Dylan and Cowan start arguing, while the FBI director continues to look at the evidence on the Four Horsemen. Whilst looking there is an article reading "FBI Investigation Stalls." On the first column of the article, it is mentioned that all four members of the Four Horsemen, J. Daniel Atlas, Henley Reeves, Merritt McKinney and Jack Wilder, all disappeared into thin air at the final magic show, and gave the audience fake dollar bills. By the time of the final magic show, Jack had faked his death and was presumed dead, so only three members of the Horsemen were present, not four. (00:08:55)
Factual error: After his show Atlas reveals he did his rain trick using rain machines and strobe lights. While this is technically correct it only makes the rain appear to stop, not prevent it from falling. But during his show when the rain is "stopped" we see no splashes on the ground or on people who put down their umbrellas.
Continuity mistake: In the first Now You See Me, Dylan said before his father got into the safe that was dropped into the river he gave Dylan his watch to hold so he could count the seconds until he escaped, but in Now You See Me 2 there's a flashback that showed what happened before his father got into the safe and he does not give him his watch. Instead it shows Dylan and his father both with a watch and synchronizing them together.
Continuity mistake: When Daniel is communicating with "The Eye", he walks over to a well and places his phone down around the rim of it. The phone is beside the edge of one of the blocks covering the rim, to its left. When Walter is explaining to Daniel later on in the movie that he was the voice, the scene cuts to a flashback, and Daniel is now shown placing the phone beside the right hand side of the edge of the block. (00:06:05 - 01:10:55)
Continuity mistake: When the Horsemen are onstage at the OCTA party, Dylan opens his iPad and notices a tarot card on it. In the close-up shot, when the tarot card is first shown, it can be seen slightly passing over the edges of the iPad, but in the shot previously, Dylan is opening the iPad, but the tarot card is nowhere in sight. It would have been visible even from the camera angle that was shown. (00:22:45)
Continuity mistake: When Merritt is explaining to Daniel, Jack and Lula that they are in China, he starts saying "I think where we are right now, they don't refer to it as Chinese food." In this shot, he is standing beside Lula, maybe a few inches ahead of her, but in the next shot, Merritt is suddenly a couple more feet ahead of her. (00:27:20)
Continuity mistake: Jack is shown wearing a security guard uniform throughout the entire infiltration of the launch party. When the party has been intercepted and Jack is exposed to everyone, he is still shown wearing the security guard uniform, but when the Horsemen are on the roof minutes later, Jack is suddenly back to wearing his leather jacket and T-shirt. Even if this is needed for the story and some time had passed between scenes for him to change, Jack was being chased by the FBI and was in a hurry to escape the building, so he would not have had anytime to change back, nor would he have risked wasting any time changing his clothes anyway.
Continuity mistake: When Walter is explaining to Daniel he was the voice he heard earlier in the movie, he mentions that he put his phone on a by-wave syphon pad, the scene flashes back to when Daniel was communicating with the voice and it is discovered there was a device planted inside the well, shown behind a grid. When Daniel visited this place earlier on in the movie, the grid inside the well was visible, but there was no sight of the device inside the grid. (00:06:05 - 01:11:00)
Continuity mistake: When Agent Cowan is asking the FBI director what happened, she says that they are gone and tells the man beside to come with her. She and the man then start walking, with the FBI director walking a couple of feet ahead of the man. In the next shot, the man is still behind her, but suddenly slightly closer. (01:53:50)