The winner of the Last Toy Standing match: Amiibo.
http://www.nintendoworldreport.com/news/45695/lego-dimensions-hits-the-bricks-no-new-expansions
There will not be a Season 3 of LEGO Dimensions.
Warner Brothers issued a statement today on the game's official Twitter account, indicating that the currently available expansion packs (known as Season 2) will be the last new figures produced. Existing figures and server support will still be available for the game.
LEGO Dimensions released for the Wii U among other platforms in 2015 and released multiple expansion packs across a slew of franchises. Sonic, Back to the Future, and The Simpsons were among the franchises represented in the game.