After two gripping seasons, Squid Game is set to return with Season 3 — and the stakes are expected to be higher than ever. As fans dissect every detail from previous episodes, several compelling theories and expectations have begun to surface online, fueling excitement for what lies ahead.

Season 2 ended with Seong Gi-hun (played by Lee Jung-jae) refusing to board a flight to see his daughter and instead choosing to confront the shadowy organization behind the games. This strongly sets up Season 3 as a showdown between Gi-hun and the system, with many predicting he may attempt to dismantle the operation from within. Could Gi-hun become a player-turned-rebel — or even assume a leadership role inside the organization to destroy it?

Fan theories suggest Season 3 might delve deeper into the origins of the Squid Game and its global reach. There’s speculation that similar deadly games exist in other countries, and the show could expand to reveal how deeply rooted this network is. Some believe new characters from international squads may be introduced, adding a global dimension to the brutal survival narrative.

The return of Lee Byung-hun as the enigmatic Front Man is highly anticipated, with fans eager to see if his moral compass shifts again or if he becomes Gi-hun’s main antagonist. Some even theorize that Gi-hun and the Front Man might share more history than previously revealed.

As for the cast, Lee Jung-jae is confirmed to return, and Hwang Dong-hyuk, the show’s creator, has teased new faces along with returning ones. With its sharp commentary on capitalism, human psychology, and social inequality, Season 3 promises more twisted games, ethical dilemmas, and emotional turmoil.

Whatever direction the story takes, Squid Game Season 3 is poised to deliver another tense, thought-provoking, and action-packed ride.

It is scheduled to release on June 27.

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