With Stranger Things Season 5 Volume 2 now out, fans are once again trying to answer the biggest question surrounding the Netflix series’ final chapter: who, if anyone, will die in the finale.
While no deaths have been confirmed and the true ending will not arrive until December 31, Kali’s return in Season 5 has quickly become a focal point of fan theories. Across Reddit and social media, viewers are debating whether the character is being positioned as the show’s long-awaited traitor or as a tragic sacrifice meant to save Eleven.
The discussion has intensified following Volume 2’s events, with many fans pointing to dialogue choices, character behavior, and long-running narrative patterns from earlier seasons.
Kali betrayal theory gains traction among fans
One popular theory argues that Kali is secretly working against Eleven, or at the very least manipulating her toward a dangerous end. Some fans believe Kali could be collaborating with Kay, intentionally or not, to remove Eleven as a threat, with several posts questioning moments where characters hesitate or react strangely in her presence.
Others suggest Kali’s powers are key to a larger deception. A recurring idea is that she could use illusions to make Eleven believe she is dying alongside her, or that Kali is helping her, when the reality is far darker. In these theories, Kali is positioned as the traitor that cast interviews have vaguely alluded to.
Several fans also connect this behavior back to Kali’s Season 2 arc, arguing that she has consistently pushed Eleven toward violence, isolation, or self-destruction rather than growth. From that perspective, her Season 5 return is seen not as redemption, but escalation.
Fans also believe Kali could sacrifice herself instead
On the other side of the debate, many viewers believe Kali’s role in the finale is far more selfless. According to this theory, Kali is being set up for a major sacrifice, potentially dying so that Eleven does not have to.
Some versions suggest Kali’s death could be used to stage a fake-out ending, where Eleven is believed dead by the government and the public, allowing her to finally live off the grid. Others frame it as a moment of redemption, with Kali realizing that Eleven deserves a life beyond running and fighting, especially after seeing her connection to Hopper.
There are also theories that blend sacrifice with survival, suggesting Kali could help Eleven disappear entirely, possibly leaving the country, while taking the blame or the fatal consequence herself.
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