‘Squid Game 3' — instant Emmy predictions for the bloody final season
Humans are ... in the hunt for Emmys.
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Seong Gi-hun's (Lee Jung-jae) final line of dialogue in Netflix's survival drama may have been unfinished, but it was poetic all the same. "We are not horses, we are humans, and humans are ...," Player 456 declared before sacrificing himself so that Player 222, aka the newborn baby of Kim Jun-hee (Jo Yu-ri), could survive and win the entire prize pot of 45.6 billion won (about $33.6 million USD).
Season 3 of Squid Game might not be eligible until the 2026 Emmys (Season 2 is in contention right now for the 2025 edition), but here's how the emotional ending might affect the show's chances for next year's awards.
Gi-hun's act of bravery in the finale only needed to be made because he foolishly killed Player 333, aka the baby's father, Lee Myung-gi (Im Si-wan), before the final game officially started. Whoopsie! Since the rules of "Sky Squid Game" stated that a death had to occur after the "start" button was activated, Gi-hun decided to push the button and then fall over the edge, thereby ensuring that the child would be the last player standing crawling.
Player 456's final words were spoken to the Front Man (Lee Byung-hun), who took them to heart. In the last moments of Squid Game 3, the villain ensured that Gi-hun's remaining winnings from the first season were personally hand-delivered to his daughter in Los Angeles. Later, the Front Man came into contact with a character played by a two-time Oscar winner. More on her below — including whether she's actually eligible for an Emmy Award with such little screen time.
Here are Gold Derby's instant Emmy predictions for Squid Game 3.
Lee Jung-jae won the Emmy for Season 1 in 2022, beating out such hot contenders as Adam Scott (Severance), Bob Odenkirk (Better Call Saul), Jason Bateman (Ozark), and Brian Cox and Jeremy Strong (Succession). Lee's undoubtedly the show's strongest chance at an acting nomination for Season 3, particularly if he gets in for Season 2 (those bids will be announced on July 15).
In the final six episodes, Jung-jae went on an emotional roller-coaster with Gi-hun. Not only did he deal with the loss of his childhood friend at the end of Season 2, for which Jung-jae felt personally responsible, but he built a relationship with a young mother, and had a face-to-face meeting with the mastermind behind the games. Gi-hun may have been a man of few words, but viewers always knew where he stood thanks to the actor's deeply expressive performance.
Lee Byung-hun returned as the mysterious Front Man, aka Hwang In-ho, and viewers witnessed a softer side of him in Season 3. Not only did he take a backseat to the much more cutthroat — and, yes, annoying — VIPs, but his backstory was also explored. During a flashback, it was revealed that the Front Man had won a previous cycle of Squid Game by cheating, something that clearly still haunted him in the present-day. (He slit everyone else's throats at night, using the knife that was secretly handed to him by O Yeong-su's powerful leader, Oh Il-nam.)
Due to his increased screen time, Byung-hun should certainly be in the Emmy discussion for Season 3, as should the aforementioned Jo Yu-ri and Im Si-wan as the baby's parents. In addition, supporting players who made a big impact include Wi Ha-joon (Detective Hwang Jun-ho), Kang Ha-neul (Player 388 Kang Dae-ho), Park Gyu-young (North Korean defector Kang No-eul), Park Sung-hoon (Player 120 Cho Hyun-ju), Yang Dong-geun (Player 007 Park Yong-sik), Kang Ae-shim (Player 149 Jang Geum-ja), Lee David (Player 125 Park Min-su), and Roh Jae-won (Player 124 Nam-gyu).
Shortly after the new season premiered it was spoiled that Cate Blanchett has a surprising cameo in the final moments as an unnamed American who is recruiting down-on-their-luck people for, presumably, a state-side version of Squid Game. The scene seems to hint at speculation that Netflix will continue the story or create a spin-off set in the United States, but official details are yet to emerge.
Even though Blanchett has won two Oscars (The Aviator and Blue Jasmine) and been nominated for two Emmys (producing and starring in Mrs. America), she won't be winning an Emmy for Squid Game. Why? The minimum screen time for guest star eligibility is 5 percent of the total running time of the submitted episode, and Blanchett only appears in 35 seconds of the roughly 55-minute finale, or about 0.01 percent. Who said there wouldn't be math?!
South Korean filmmaker Hwang Dong-hyuk won the Emmy for directing the Season 1 premiere in 2022, and also earned bids for producing and writing. As the only writer and director of Squid Game, it would be a surprise to see him missing from the Emmy nominations list for Season 2 (in 2025) and Season 3 (in 2026). Even when reviews criticize certain aspects of the show, such as those cringe-worthy VIP scenes, they are always quick to mention how well-executed Dong-hyuk's overall vision is for the project. Simply put, there would be no Squid Game without Dong-hyuk, and Television Academy members are well aware of that fact.
As important as the acting, writing, and directing are for Squid Game, the technical achievements are perhaps even more astounding. In Season 1, the show received nominations for cinematography, main title theme music, picture editing, production design, stunts, and visual effects, winning for the latter three. (Guest actress Lee Yoo-mi also won a Creative Arts Emmy for playing Ji-yeong, who was killed off in the "Marbles" game.) Whether it's the striking pink costumes, the neon-colored staircases, the bloodied makeup and hair, or the intense action sequences, Squid Game is a feast for the eyes, and will be a force to be reckoned with yet again in all of the below-the-line Emmy categories.
What do you think Squid Game 3's chances are at the 2026 Emmys? Be sure to join the discussion in Gold Derby's TV forum.
Best of Gold Derby
Cristin Milioti, Amanda Seyfried, Michelle Williams, and the best of our Emmy Limited Series/Movie Actress interviews
Paul Giamatti, Stephen Graham, Cooper Koch, and the best of our Emmy Limited Series/Movie Actor interviews
Lee Jung-jae, Adam Scott, Noah Wyle, and the best of our Emmy Drama Actor interviews
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