PAM
The Policy Analysis Market (PAM), while technically a futures market, was described as utilizing the dumb agent theory. The main difference, as argued by James Surowiecki, is that in a futures market the current stock prices are known in advance, while in order for the dumb agent theory to work, they should be unknown to the investor prior to the decision making period (which is possible only with a prediction market).
Read more about this topic: Dumb Agent Theory