The disclosed embodiments relate to a system that selectively drops a prefetch request at a cache. During operation, the system receives the prefetch request at the cache. Next, the system identifies a prefetch source for the prefetch request, and then uses accuracy information for the identified prefetch source to determine whether to drop the prefetch request. In some embodiments, the accuracy information includes accuracy information for different prefetch sources. In this case, determining whether to drop the prefetch request involves first identifying a prefetch source for the prefetch request, and then using accuracy information for the identified prefetch source to determine whether to drop the prefetch request.