The Aussie actress is reportedly set to take over the role which was previously tipped to go to Amy Schumer (there were also rumours of Anne Hathaway in the role at one one point).
The film was first announced back in 2014 and Schumer became attached to the project in 2016, with reports it would be a modern-day feminist take on the iconic character. Schumer, however, bowed out of the role due to "scheduling conflicts."
Sony reportedly passed on the project and Mattel took back the rights and now Warner Bros. is believed to be spearheading the project, with Margot's production company LuckyChaps on board to produce, according to The Hollywood Reporter.
Sources say that Wonder Woman director Patty Jenkins could be in talks to direct.