After offering a definition of “conspiracy theory” and highlighting some interesting interconnections between conspiracy theories and religious worldviews, we turn to epistemologically relevant analogies. Proponents of conspiracy theories and religions have often been accused of the same biases and epistemic vices, e.g., gullibility, hypersensitive proneness to personal explanations, or overemphasis on holistic thinking. So-called Generalism is best understood as the thesis that conspiracy theories are guilty until proven innocent because they share certain “bunkum-making properties.” However, we argue for the particularist position, i.e. the position that a general epistemic presumption against conspiracy theories is not tenable. Building a negative valence into the very notion of conspiracy theory is not convincing either. Given the analogies, our analysis supports similar verdicts with respect to religious worldviews: Like conspiracy theories, they should be evaluated on a case-by-case basis rather than being dismissed simply for being religious. Finally, we reject Bezazel’s view that both conspiracy theories and religious worldviews constitute a-rational frames or “bliks” that, besides other things, ground what counts as an explanation. Such a proposal squares badly with epistemic misgivings about particularly preposterous examples of conspiracy theories and religious worldviews.