Exposed poet swallowing tablet (5)
I believe the answer is:
bared
'exposed' is the definition.
(baring is a kind of exposing)
'poet swallowing tablet' is the wordplay.
'poet' becomes 'bard' (bard is a kind of poet).
'swallowing' is an insertion indicator.
'tablet' becomes 'e' (E can mean ecstasy or an ecstasy tablet).
'bard' placed around 'e' is 'BARED'.
(Other definitions for bared that I've seen before include "Stripped" , "Uncovered" .)