It hasn’t been long since the release of Season 2, but fans of Squid Game aren’t ones to rest — the internet is already buzzing with theories about what Season 3 might hold. And while some are borderline bonkers, others are oddly compelling. Here are the wildest ideas currently captivating the fandom.
Squid Game: Was Gi-hun connected to Il-nam from the start?
One of the most talked-about theories suggests Gi-hun and the old man Il-nam weren’t just fellow players — they might have been related. Fans point to telling clues: Gi-hun asking for chocolate milk, and Il-nam reminiscing that his son never drank regular milk either. Then there’s the jacket with the number 1, and the nostalgic scene about a familiar neighbourhood. If true, it reframes the whole story as a twisted family tragedy.
Il-nam’s death was faked — and Gi-hun could replace him
Some believe Il-nam’s death at the end of Season 1 was staged. His final scene — in an abandoned building, complete with a water jug and a ticking clock — felt suspiciously orchestrated, like he knew Gi-hun would find him.
The Games are global
When the VIPs appeared — those masked elites watching the carnage like a sport — many noted that they all spoke English. Could this mean the Games aren’t just a South Korean nightmare, but a global underground business? Some fans believe Gi-hun might travel to the U.S. to take the network down. If Netflix is indeed planning an English-language spinoff, it only adds fuel to the theory.
Time will tell which, if any, of these theories come true — but if even one of them does, we’re in for a deeper, darker season than anyone imagined.
