Squid Game Season 3 Teaser Trailer Reveals First Glimpse at Culmination of Netflix’s Most Popular Show — and Fans Have Theories

Netflix has released a teaser trailer for Squid Game Season 3, and arsenic good arsenic offering a archetypal glimpse astatine the culmination of the hugely fashionable show, has sparked a fig of instrumentality theories.

Season 3, which launches connected Netflix connected June 27, is the 3rd and last play of Netflix’s astir fashionable show. It picks up wherever Season 2 near off, with Gi-hun (Player 456) backmost successful the games and inactive determined to dismantle them erstwhile and for each — contempt the harrowing events of the erstwhile season.

— Netflix (@netflix) May 5, 2025

Here’s the authoritative blurb from Netflix:

A failed rebellion, the decease of a friend, and a concealed betrayal. Picking up successful the aftermath of Season 2’s bloody cliffhanger, the 3rd and last play of Netflix’s astir fashionable bid finds Gi-hun, a.k.a. Player 456, astatine his lowest constituent yet. But the Squid Game stops for nary one, truthful Gi-hun volition beryllium forced to marque immoderate important choices successful the look of overwhelming despair arsenic helium and the surviving players are thrust into deadlier games that trial everyone’s resolve. With each round, their choices pb to progressively sedate consequences. Meanwhile, In-ho resumes his relation arsenic Front Man to invited the mysterious VIPs, and his member Jun-ho continues his hunt for the elusive island, unaware there’s a traitor successful their midst. Will Gi-hun marque the close decisions, oregon volition Front Man yet interruption his spirit?

So, what does this teaser trailer archer us? Fans judge that astatine the 46-second people we spot Player 246, the begetter of the sick miss successful Season 2 (they’re being scanned down the ear). If true, this would mean Player 246 survived the events of Season 2, during which it looked similar they had died.

And if that’s true, possibly that has implications for Guard 011, who worked astatine the aforesaid taxable parkland arsenic Player 246 earlier entering the games. Did 011 deliberately miss the termination changeable connected 246? What is 011’s plan, exactly?

Right astatine the extremity of the trailer we perceive a babe crying. That whitethorn good beryllium Kim Jun-hee's baby. Will Player 222 springiness commencement during the events of Season 3? Fans fearfulness that if so, we could beryllium successful for immoderate existent tragedy.

We besides person caller teaser images, below, that person likewise sparked speculation astir what to expect from Season 3 successful presumption of the characters, their votes (if voting happens again), and the destiny of their teams. One representation shows Park Min-su (Player 125) wearing an O spot alternatively of an X patch, which suggests astatine immoderate constituent successful this upcoming play 125 ends up connected a antithetic team… again.

Is this the effect of a alteration of bosom and an associated alteration of vote? The teaser trailer shows the characters turning what looks similar a gumball instrumentality to find retired whether they get a reddish oregon bluish ball, truthful it whitethorn beryllium the lawsuit that the don't person a prime which broadside they extremity up connected this clip around. That could person absorbing implications for allies perchance present forced to beryllium enemies.

Elsewhere, the shaman character, Seon-nyeo (Player 044), is seen with a supplication necklace that looks a batch similar a key. And successful 1 of the images we spot a doorway shaped similar a cardinal hole. Could the 2 beryllium related? Could this cardinal unlock the door?

Squid Game Season 2 ends connected a cliffhanger that sets up Season 3. Be definite to cheque retired our Squid Game Season 2 reappraisal to find retired what we deliberation of the show.

Wesley is the UK News Editor for IGN. Find him connected Twitter astatine @wyp100. You tin scope Wesley astatine [email protected] oregon confidentially astatine [email protected].