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Inverse
Inverse
Entertainment
Dais Johnston

'Squid Game’s Shocking Ending May Not Mean Anything At All

Netflix

After Squid Game captured the hearts of fans in 2022, it set off a global movement. Tracksuits became a go-to Halloween costume staple, multiple reality shows tried to replicate the deadly games (without the actual fatal consequences, of course), and rumors were flying about a possible Season 2. Finally, in the last week of 2024, we got Season 2, but it was only the first half of the last chapter.

When Season 3 was released in June 2025, it seemed like the story was well and truly done. That is, until the last few moments. In the final scene of the entire show, the Front Man (Lee Byung-hun) visited the late Gi-hun’s daughter in Los Angeles to pass on his winnings. Just as he’s about to leave, he sees a Recruiter playing ddakji with a prospective player in an alley. As he looks on, we realize who it is: Cate Blanchett, presumedly playing an American Squid Game employee. But what does this cameo mean? According to Blanchett herself, she doesn’t really know.

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