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Squid Gameseason two brought more twists and turns than a rollercoaster ride through a labyrinth of mind games and deadly stakes. Lee Jung-jae’s Seong Gi-hun (Player 456) willingly returns to the deadliest game of all time and he sets his mind to the destruction of the entire organization. However, everyone knows that it is easier said than done. Season 2 shows new alliances, more devastating heartbreaks than ever before, and a terrifying revelation.

Oblivious to the fact that the man he is trying to bring down is no one else but his biggest confidante, Gi-hun continues his path to freeing the world from the grasp of The Front Man. Now, a theory suggests that on his quest, Gi-hun might lose the concept of good and bad and become the very thing he swore to destroy.
Squid Gametheory predicts an unfortunate arc for Seong Gi-hun
Lee Jung-jae’s Player 456 is hell-bent on confronting the Front Man responsible for the games. He works with Hwang Jun-ho (Wi Ha-joon), who had survived his fall from last season but things quickly take a turn for the worse when Gi-hun actually enters the game.
Player 001, Hwang In-ho (Lee Byung-hun), befriends Gi-hun and becomes one of his allies in the game. However, it is soon revealed that In-ho is no ally to the leading man of the show. In fact, he was the one Gi-hun was out to get, aka The Front Man.

The Milk Theory in Squid Game 2 Reveals True Backstory of Player 001 and Why Did He (Spoiler) Player 456 Seong Gi-hun
While season 2 has come to an end, Gi-hun remains oblivious to the fact that the masked mastermind is none other than Player 001 himself.
Coming to the terrifying theory, some fans seem to believe that the upcoming third and last season ofSquid Gamewill see Gi-hun go astray and become the Front Man.

Given by @One_Motive_on Reddit, the theory states,
Hot Take Theory: We are witnessing the development of the new Front Man. The current Front Man doesn’t want to kill him, he wants to break him like he was. Then he’s going to convert him. The Front Man’s point is Gi-Hun is no different and that was validated by his reckless plan.

Read the entire thread below:
While it seems absolutely out of line for a character like Gi-hun, we cannot ridicule the theory just yet. After all, if there’s one thing we have learned from seasons 1 and 2, it is the fact that anything can happen inSquid Game.
Can Seong Gi-hun go down the dark path?
Well, it is one of the many possibilities. That’s right. The good guy leading the rebellion against the Front Man could go full villain mode in season 3. Think about it for a minute, the Front Man himself has gone through his own twisted journey and was actually a player in the 2015 games.
Not only did he participate in the games as Player 132, but In-ho actually ended up winning the 28th Squid Games. So, it isn’t shocking that another player might end up taking over the mantle in the future.

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In-ho has been through it all – getting crushed, betrayed, and ultimately molded into the cold leader he is today. Sounds a bit familiar, doesn’t it? Who is to say that he doesn’t see himself in Gi-hun? Gi-hun is reckless, desperate, and not afraid to cross the line for the bigger picture.
Well, only time will tell what’s in store for our MMC but one thing’s for sure – an epic showdown awaits us in season 3 as Gi-hun will finally learn the truth about Player 001.
Squid Gameseason 3 will be released sometime in 2025. Meanwhile, seasons 1 and 2 are available to watch on Netflix.
Mishkaat Khan
Senior Writer
Articles Published :2256
A connoisseur of all things horror, fantasy, and the occasional chick flick, Mishkaat has been penning pieces for FandomWire since 2022. She started off as an intern and has worked her way up to a Senior Writer with over 2000 articles to her name.Outside of entertainment, she has also written well-researched medical content as a freelance writer and has experience in social media management.When not writing, you can find her relaxing with a romance novel and a tall glass of iced coffee in her hand or watching re-runs of ‘Supernatural’ and ‘The Office.’