The most common and most likely answer to this crossword clue is the 6 letter word VALUES
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More clues leading to the result VALUES
Buddy explains!

The straight part
We know that "prizes" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case prizes = values.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.
What does VALUES mean?
VALUES noun- The quality (positive or negative) that renders something desirable or valuable.
- The degree of importance given to something.
- That which is valued or highly esteemed, such as one's morals, morality, or belief system.
- The amount (of money or goods or services) that is considered to be a fair equivalent for something else.
- The relative duration of a musical note.
- The relative darkness or lightness of a color in (a specific area of) a painting etc.
- Any definite numerical quantity or other mathematical object, determined by being measured, computed, or otherwise defined.
- Precise meaning; import.
- (in the plural) The valuable ingredients to be obtained by treating a mass or compound; specifically, the precious metals contained in rock, gravel, etc.
- Esteem; regard.
- Valour; also spelled valew.
- To estimate the value of; judge the worth of something.
- To fix or determine the value of; assign a value to, as of jewelry or art work.
- To regard highly; think much of; place importance upon.
- To hold dear.