Jake Gyllenhaal in Talks to Star in 'Half Nelson' Duo's Next Project (Exclusive)

ELLE's 17th Annual Women In Hollywood Tribute
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Jake Gyllenhaal presented at the event. Later, he got a kiss and hug from Gwyneth Paltrow.

Ryan Fleck and Anna Boden will direct "Mississippi Grind" from a screenplay they penned.

Indie darlings Ryan Fleck and Anna Boden are delving into the world of gambling for their next film. Jake Gyllenhaal will produce and is in talks to star.

The multihyphenate duo, who directed Ryan Gosling to a best actor Oscar nomination forHalf Nelson, will helm Mississippi Grind from a screenplay they penned.

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The story centers on a down-on-his-luck gambler facing crushing debt who teams up with a younger gambling addict (Gyllenhaal) in an attempt to change his luck. The two set off on a road trip through the South with visions of winning back what has been lost. The lead character would be a plum role for Hollywood's fortysomething set.

WME, which reps Fleck, Boden and Gyllenhaal, is packaging the project, which would fall in the less-than-$10 million budget range.

Gyllenhaal brought the screenplay to Electric City partners Jamie Patricof and Lynette Howell, who are also producing alongside former WME agent and Paramount president John Lesher.

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Since moving from the world of documentaries, Fleck and Boden have become lightening rods for talent. They most recently wrote and directed It's Kind of a Funny Story with Zach Galifianakis.

Gyllenhaal credits include Source Code, Prince of Persia: The Sands of Time and Brokeback Mountain, for which he earned an Oscar nom. He next will be seen opposite Anna Kendrick and Michael Pena in David Ayer's crime drama End of Watch.

Fleck and Boden are additionally repped by Management 360.