Cryptic crossword clue
Laughing thief in prison, similarly half-cut? 10

The most common and most likely answer to this crossword clue is the 10 letter word SNICKERING

I've seen this crossword clue in Financial Times
S
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Buddy explains!

The straight part
We know that "Laughing" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case laughing = snickering.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

Crossword Answer definitions

SNICKERING verb
  1. To emit a snicker, a stifled or broken laugh.
  2. To utter through a laugh of this kind.
  3. (of a horse) To whinny.
SNICKERING noun
  1. The act of one who snickers.

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