Laugh in local, ordering drink (7)
I believe the answer is:
alcohol
'drink' is the definition.
(alcohol is a kind of drink)
'laugh in local ordering' is the wordplay.
'laugh' becomes 'ho' (representation of a laughing sound).
'in' is an insertion indicator.
'ordering' indicates an anagram.
'local' with letters rearranged gives 'alcol'.
'ho' put within 'alcol' is 'ALCOHOL'.
(Other definitions for alcohol that I've seen before include "I could get you pickled" , "solvent" , "lager, perhaps" , "The intoxicant in drink" , "Intoxicating element of liquor" .)