Prediction Markets can destroy GroupThink.

Haacked:

[...] Prediction Markets counter these symptoms through independence and proper incentive. Because the participants in a market are not directly working together, there is no way for peer pressure to burrow itself into the decision making process. There is no fear of offending others in such a market. Putting something valuable (such as money) on the line (or having a huge investment in the correct outcome, such as predicting disaster) has an eye-opening habit of making people truthful and helps to avoid self-censorship etc…

Another necessary factor in the success of markets, as pointed out in an insightful comment to this post, is diversity. Markets and committees that lack diversity of viewpoint fail to take advantage of all available information in a meaningful way and succumb to a form of tunnel vision. This type of phenomena is very evident in a leader who surrounds him/herself with sycophants and thus makes decisions based on what they want to hear rather than fact. [...]