This paper outlines how an existing collaborative forecasting tool called a prediction market can be integrated into an educational context to enhance information literacy skills and cognitive disciplinary knowledge. It describes how this tool can be packaged as a pedagogical intervention which can be used in a range of contexts across multiple disciplines. The methodology is illustrated using a case study which describes the addition of a prediction market assignment into an undergraduate module. Using both quantitative and qualitative data, the paper empirically investigates the impact of prediction market participation on engagement in information search and cognitive disciplinary knowledge.