Arcane was always written for 2 seasons and rumors are debunked!

If you enjoyed Arcane, like I did, you must definitely be wanting more about the series, which derives from the stories of the characters from League of Legends, for Vi and Caitlyn, this will be the last season, since as the creator Marc Merrill himself talked a bit about rumors, on his reddit, clarifying that there will not be 5 seasons of the show and that Arcane was meant to have only 2 seasons.

"The confusion is because internally there was a conversation about budgeting for 'approving 5 seasons' - which simply means we were setting aside a lot of money for a lot of development and it's completely irrelevant to the creativity of Arcane," Merrill continues (it's worth noting that the total budget of the show, including advertising, would have cost $250 million, which may be where some of the rumors came from, in addition to what Merrill explained). "Creativity and making something great is always the priority for Riot and our teams."

The most likely scenario now is that the creators will turn their attention to other stories from the League of Legends universe, which I would love to see, especially if they already used the base of Arcane, bringing every 2 seasons, the story of different characters, which would leave everything there. However, we can expect new plans and even different formats, as the developers still have a lot of story to tell!

"We also always imagined telling more stories and continuing to expand the universe. That has never changed - people just latch onto rumors or misleading headlines and Riot hasn't corrected them - but given that these rumors have gained traction, happy to clarify. Just because that's our intention, doesn't mean it's easy or that we can churn these things out like a factory - just like making games that are worthy of players' time/love is very hard, so is telling great stories and making amazing shows/movies (especially when we are building from scratch for the first time)."