The ICO history of Trove Markets has become a textbook case of prediction market manipulation. From the initial token performance to subsequent market behavior, the fluctuations experienced by this project reveal issues within the prediction market ecosystem—such as concentrated liquidity, large traders having significant manipulation potential, and a lack of transparency in price discovery mechanisms. These phenomena are not uncommon on emerging on-chain financial platforms and also highlight the need for market participants to exercise greater caution when assessing project risks and counterparty risks.