Source : Webster's Revised Unabridged Dictionary (1913)

Panopticon \Pa*nop"ti*con\, n. [NL. See {Pan-}, and {Optic}.]
   1. A prison so contructed that the inspector can see each of
      the prisoners at all times, without being seen.

   2. A room for the exhibition of novelties.

Source : WordNet®

panopticon
     n 1: an area where everything is visible
     2: a circular prison with cells distributed around a central
        surveillance station; proposed by Jeremy Bentham in 1791