What do you think would happen in season 2?

still some unanswered questions, that ending left us hanging. How would Gi Hoon even find out where the Squid Games location is? 

Would they play the exact same games again or will they change it up since it'd be predictable for us viewers?  

Is Jun Ho still alive? I'm hoping it could be possible since he only got shot on the shoulder. 

What happened to the previous winners of SG? Are they living happily with all that money or are they still haunted by the guilt of other players' deaths? 

I also want to see more of Gong Yoo since he only showed up in the first and last episode for a while. 

I don´t think a season 2 is needed, or would be satisfying, since the drama lives off its commentary on society, not necessarily from the games. 

And the commentary was on point.

I don't think this will get a 2nd season, it's pretty much complete even if a few things were left out, but the open ending with Gi Hoon heading for revenge may prove me wrong.

If they make one anyways:

Jun Ho will be brought back obviously, they'll have to explain where was he for a year and why he was quite which is something easy to do OR they'll confirm his death and introduce a new character who takes over after receiving the evidence Jun Ho sent, who have been investigating them for a while by the time of the of the 2nd season.

They will give us different games to keep things fresh but they'll to do things differently too otherwise even with different games it'll still be the same thing, that would be repetitive and boring.

Overall the only thing that would make a 2nd season interesting is Gi Hoon's revenge and I don't think this drama would head for that direction, where he succeeds in ending the games as it's not that kind of story where the hero saves the day at the end of all things, after all why you think they purposely failed Jun Ho?

The winners are either alive and monitored or killed if tried to act up like Gi Hoon is trying to do but I don't think any of them is sane after what they went through unless they were insane to begin with, and the money is most likely used regardless of anything, Gi Hoon using his at the end was a good example that the others would use theirs too.

 NaniNi:

The policeman will be alive and we will understand the reasoning behind the role of his brother as the front man for the games. On the other side we will understand more about the life of 001. 456 will spend time to stop the games and seek revenge. I will not be surprised even if it occurs that 001 is the father of 456. Unfortunately, I don't see how North Korean girl will participate, although I would like to see how her character can be developed further.

Sae Byeok is dead they can't do anything with her character in a hypothetical 2nd season except perhaps flashbacks which would be totally unnecessary. 

Il Nam and Gi Hoon are totally unrelated.

Season 2? Gi Hoon probably will fill Il Nam's position and rearrange the whole Squid Game. Junho? He is still alive of course.

About the North Korean girl, surely she must be dead, however there is a slight chance they managed to save her, since she was taken away in a coffin so fast she might have been saved if surgeons and all were on standby. But then again, why slaughter all those people only to save one person that could have been killed anytime anyway, what is the plot in that? Then you might wonder, did anyone actually die? No I don't think they should start bringing people back that should be dead, were shown dead, player #1 was an exception though, he was never shown dead, that scene was never shown, just a sound of a gun going off as he was whisked "off stage".

Also the police officer, he was shot right through the heart, fell off a cliff. But I've seen miracles like that being pulled off in kdrama. He actually has a unfinished story. I never really fully understood his role, the series could have been without him and nothing would have changed.

No, I think they will begin with a clean slate of actors, maybe Lee Jung Jae will return, but all participants will be new.

UNLESS... the north korean girl is a live, and she is used to blackmail 456 to re-enter the game to save her. Something like that.