All people can think which is the question only reading the topic title:

What happens if you want to use Palantir and there are only 2 cards in encounter deck?

Can you trigger the action? Must raise 2 by the 3rd card? Only the cards left are valid...?

Without knowing it, I would guess it is one of those effects where you fulfill it to the "fullest possible extend".

AKA look at the cards remaining and either draw a card or raise your threat as instructed. The 3rd card, I´d say, would return a null-value; it neither matches nor does-not-match and thus nothing happens.

The question is if anyone agrees with that interpretation.

The card specify what to do in case of a match and in case of a non-match, so you should get away with the 2 threat but wouldn't draw a card.

Also, I remember that revealing card if there is no sufficient card is ok.