Broadband seismograms from the EarthScope Transportable Array and Superior Province Rifting EarthScope Experiment (SPREE) deployments are used to map the crust and uppermost mantle structures beneath the failed Midcontinent Rift (MCR) of Minnesota/Wisconsin, USA. The results suggest the existence of a variable zone of mafic underplating that is up to 20 km thick (40–60 deep). We jointly invert receiver functions and Rayleigh wave dispersion curves to quantify the region's crustal and mantle shear‐wave velocity structure. Basin sediment thicknesses are mildly asymmetric about the rift axis, with thickest regions immediately beneath the rift. 3‐D modeling shows anomalous lower crust and crust‐mantle transitions beneath the MCR. Sub‐MCR crustal thicknesses are generally >50 km with lower crust Vs of 4.0–4.2 km/s. Away from the MCR, the crust is typically ∼40 km thick. Strong variations in apparent crustal thickness are found along the MCR, increasing significantly in places. An additional layer of shear velocities intermediate between typical lower crust and upper mantle velocities (4.1–4.6 km/s) exists beneath most of the MCR which is thickest beneath the rift axis and pinches out away from the rift. This structure corroborates previous proposals of the presence of an underplated layer near the Moho. Results cannot distinguish between different mechanisms of emplacement (e.g., mafic interfingering within a subsequently down‐dropped lower crust vs. development of a high‐density pyroxenitic residuum at the top of the mantle). Also observed are anomalously high (>4.7 km/s) sub‐rift shear‐wave velocities at ∼70–90‐km depths, suggesting the presence of cold, depleted upper mantle material.