Scarlett is the older Dragna sister, characterized by her restraint and a deep sense of responsibility to protect her family. Having survived the dangerous illusions of the Caraval games, she now lives in the capital city of Valenda. She possesses a unique, latent magical ability that allows her to perceive the emotions of others as distinct colors, an ability she hesitates to fully utilize out of fear of losing her humanity.

Donatella, frequently called Tella, is the impulsive and adventurous younger Dragna sister. Following the events of the previous Caraval game, she finds herself tangled in a web of magical bargains and unresolved feelings. She is fiercely independent and refuses to yield easily to the immortals who try to influence her, relying on her sharp instincts to survive the dangerous politics of the awakened Fates.

Legend is the powerful, immortal Master of Caraval who recently claimed the throne of the empire. Known for his theatrics and mastery of illusion, he maintains a strict emotional distance from others in order to protect his immortal status. He insists that love is a fatal weakness, leading him to offer magical protection rather than genuine emotional connection.

Gavriel, known as the Fallen Star, is an ancient and tyrannical Fate who seeks absolute control over the empire. He views human emotion as a disease to be eradicated, preferring to rule through fear, isolation, physical cages, and destructive fire. He actively orchestrates chaos throughout Valenda so that he can swoop in and present himself as the city's savior.

Julian is a former Caraval performer who prioritizes honesty over the magical illusions favored by his brother. Operating as a steady, grounding presence, he supports Scarlett through her complicated courtship and the rising threat of the Fates. He demonstrates his devotion through protective actions rather than manipulative bargains.

Jacks is the Prince of Hearts, a Fate who runs a lavish gambling parlor in University Circle. He feeds on negative emotions and uses his ability to dull pain to manipulate those who are grieving. He harbors a dark, obsessive fixation on Donatella, constantly seeking to bind her to him through magical wagers and blood rituals.

Paloma, known in the criminal underworld as the notorious thief Paradise the Lost, is the mother of the Dragna sisters. She recently awakened from an enchanted sleep and immediately resumes her secretive, dangerous lifestyle. She operates under the belief that she must distance herself from her daughters to protect them from the Fates she once stole from.

Nicolas is a wealthy count and Scarlett's former arranged fiancé. He is polite, composed, and offers a life of traditional safety and status. He participates in a courtship competition for Scarlett's hand, representing a secure, non-magical alternative to the chaos of the Caraval performers.

Esmeralda is a powerful witch marked by rose tattoos. She holds a deep knowledge of the Fates' origins and weaknesses, having originally granted Legend his magical abilities. She reluctantly assists Legend in his efforts to combat the awakened Fates.

Anissa, known as the Lady Prisoner, is a Fate confined to Gavriel's twisted, opulent palace. Cursed with the inability to lie, she provides blunt warnings and observations to other captives, serving as a bleak reminder of Gavriel's absolute demand for control over those around him.

Mistress Luck is a Fate who frequents the gambling parlors of University Circle. She understands the fatal rules governing immortal beings and freely shares warnings about the destructive nature of love when it involves the Fates.

The Poisoner is a chaotic Fate who targets mortals with twisted curses. He turns whole families and wedding parties into living statues, lifting the enchantments only when a nearby victim sacrifices themselves or confesses a hidden lie.

The Assassin is a Fate capable of traveling through space and time. Because timeline manipulation has made him strange and dangerous, he acts as a wild card among the immortals, offering his services for unpredictable and steep costs.

The Maiden Death is a Fate who wears a magical ruby cage over her head. Opposing Gavriel's rise to power, she hands out luckless coins to mortals, allowing them to summon her for aid in desperate situations.

Jovan is a former Caraval performer who now acts as a royal guard for the newly crowned emperor. He coordinates palace security and acts as a trusted messenger for the Dragna sisters during moments of crisis.

Armando is a royal guard and former performer. He is assigned the difficult task of keeping Donatella confined for her own safety, a duty he struggles to fulfill given her resourcefulness and determination to escape.

Marcello is the cruel, former governor of the Isle of Trisda and the father who raised Scarlett and Donatella. Though absent from the immediate events in Valenda, his history of abuse and control continues to shape how his daughters view power, safety, and independence.