This story contains spoilers for Squid Game season 2.
One of the most important rules of Squid Game is this: only one competitor walks away with the prize money. Gi-hun (Lee Jung-jae) won the first season after competing in colorfully twisted versions of children’s games. Even Squid Game: The Challenge’s real-life winner, Mai Whelan, received her $4.56 million cash prize—with not a dime of winnings given to anyone in the rest of the field. When Squid Game returned this week for season 2, fans were likely expecting yet another victor to add their names to the game’s list of champions.
Instead, Squid Game season 2 ends with a cliff-hanger. In the season 2 finale, Gi-hun attempts to overthrow the games by force and put an end to the entire operation for good. Sadly, the Front Man (Lee Byung-hun) thwarts his plans. He kills Gi-hun’s friend, Jung-bae (Lee Seo-hwan), and captures Gi-hun at gunpoint. Then, the series cuts to credits. If it wasn’t for a brief mid-credits scene, audiences wouldn’t even know that the games continue in season 3. For now, there is no winner.
“You realize that Gi-hun’s attempts to put an end to the game have failed—in two ways,” creator Hwang Dong-hyuk told Netflix. First, he is unable to persuade others to stop the game. Then, Gi-hun “failed at trying to use physical power and strength to go up against those that were hosting the game” at the end of season 2. “Will he give in and become a completely different person?” Hwang teased. Fans will need to wait until season 3 airs later in 2025 to find out who wins… if there is even is a winner at all.
Morocco
