Populism has various effects on politicians, political parties, institutions and voters. However, these effects may vary in different countries and political contexts. This study aims to make a general assessment of the effects of populism on these actors and segments. Populism, which creates a bond between leaders and voters with its rhetoric and performances, is an ideology that has been on the rise recently. While populism provides politicians with short-term political gains, it also causes long-term policy problems. Populist parties cause traditional political parties to be affected by election results. If populism rises, traditional parties can sometimes lose voter support. Some traditional parties may adopt populist themes or turn to harsher policies in response to populism. Populism creates negative effects on democratic institutions and political balance. Populist leaders often tend to weaken institutions and seek to increase their own authority. Judicial independence, media freedom and other democratic institutions may be vulnerable to the effects of populism. The effects of populism on voters are also complex. Populist discourses not only create an emotional appeal among some voters, but also gain support because they express social problems. While some support populism, others oppose such policies.