In a bleak and oppressive metropolis ruled by the Van Der Koy clan, we meet Boy, a young dreamer living with his mother and sister, [Mina](quinn-copeland). Their lives revolve around joyful outings to the arcade and expressive endeavors about their aspirations. However, this fragile happiness is shattered when the city's tyrannical leader, [Hilda](famke-janssen), orchestrates a harrowing annual event known as The Culling, where twelve innocents are slaughtered for the entertainment of the masses. Tragedy strikes as Hilda callously ends the lives of both Boy's mother and [Mina](quinn-copeland), leaving him crippled with permanent deafness and muteness. A mysterious figure, a [Shaman](yayan-ruhian), rescues the wounded Boy, nurturing him back to health and igniting a fierce desire for vengeance within him.
As the years roll on, Boy evolves into a powerful force, dedicated to avenging the loss of his family under the tutelage of his Shaman mentor. Despite his growth, his mind is plagued by haunting visions of [Mina](quinn-copeland), a painful reminder of his family’s tragic fate. While navigating the treacherous city, Boy encounters [Glen](sharlto-copley) and [Gideon](brett-gelman), who have arrived to gather participants for the next gruesome Culling. An unexpected disturbance from a bystander ignites chaos, leading to a horrific bloodbath led by [June 27](jessica-rothe), the ruthless enforcer of the Van Der Koy family.
Unfazed by the brutality, Boy tracks [Glen](sharlto-copley) and his accomplices to a warehouse, where he finds himself ambushed and forced into a deadly fight for survival. With the unexpected assistance of [Basho](andrew-koji), a captive turned compatriot, Boy exacts his revenge on [Glen](sharlto-copley) and his henchmen. Soon, they learn about Hilda's pre-Culling gala, and [Basho](andrew-koji) suggests a temporary alliance with [Glen](sharlto-copley), but their collaboration is short-lived as [Glen](sharlto-copley) meets a grisly fate due to [Basho's](andrew-koji) carelessness.
Feeling the heat of danger, Boy and [Basho](andrew-koji) retreat to the Resistance's secret hideout, only to find that all members have been eradicated by the relentless Van Der Koy regime. Their last source of hope rests on [Benny](isaiah-mustafa), the sole survivor of the Resistance. With precision and stealth, Boy infiltrates Hilda's lavish dining room, but instead of her, he inadvertently beheads a mere decoy. An encounter with [June 27](jessica-rothe) leads to a shocking revelation from [Gideon](brett-gelman): Hilda's heinous acts, including The Culling, stem from her desperation to shield herself against the ever-looming threat posed by the [Shaman](yayan-ruhian).
As [Melanie](michelle-dockery)'s sinister plots unfurl, Boy seizes a scalpel stealthily passed to him by [Gideon](brett-gelman). In an audacious bid for freedom, he escapes The Culling, rejoining [Basho](andrew-koji) and [Benny](isaiah-mustafa). However, their reunion is short-lived as they become embroiled in a fierce confrontation. During the madness, [Benny](isaiah-mustafa) sacrifices himself to save Boy, while [Basho](andrew-koji) suffers critical injuries. Driven by anger, Boy confronts [Melanie](michelle-dockery) before directing his wrath towards Hilda's bunker, accompanied by [Basho](andrew-koji). Yet, in his quest to eliminate Hilda's guards, he is tragically distracted, failing to notice [Basho](andrew-koji) succumbing to his wounds. After [Gideon](brett-gelman) meets his end at the hands of [Melanie](michelle-dockery), he hands Boy a crucial key card that grants access to the bunker, but only after revealing a haunting vision of [Mina](quinn-copeland). Struggling with his emotions, Boy ultimately ends [Gideon's](brett-gelman) life, causing the ghostly vision to dissipate.
As he descends into Hilda's lair via an elevator, Boy is confronted by his mother through an unsettling camera and microphone setup. His response is to unveil a chilling drawing created by [Mina](quinn-copeland), prompting Hilda to command her guards to stand down. The shocking truth emerges as [June 27](jessica-rothe) is revealed to be [Mina](quinn-copeland), sending Boy spiraling into a maelstrom of memories. He reflects on the horrific acts he committed under the influence of his mother, including the extermination of the Shaman's entire family. The depth of his trauma is further exacerbated by the brutalities faced during his captivity, leading him to believe that Hilda was responsible for the demise of his family.
In a breathtaking twist, [June 27](jessica-rothe)/[Mina](quinn-copeland) turns against Hilda, driving a hatchet into her skull before teaming up with Boy to combat the remaining guards. The intensity of their battle reaches a climax as they face off against the Shaman, whose death at Boy's hands signals a monumental shift in their nightmarish game. Emerging battered yet resolute from the bunker, Boy and [Mina](quinn-copeland) share a heart-wrenching flashback filled with fond memories of playing arcade games, where the announcer’s voice echoes, “Player 2 Has Entered the Game.”