Maybe “medal’s” sounding like “meddles” (5)
I believe the answer is:
prize
'maybe medal's' is the definition.
(a medal is a prize)
'sounding like meddles' is the wordplay.
'sounding like' shows a homophone (sound like).
'meddles' becomes 'pries' (pry can mean to meddle or interfere).
'pries' is a homophone of 'PRIZE'.
(Other definitions for prize that I've seen before include "Reward for win" , "See 5 Down" , "See 24 Down" , "Award; value highly" , "Token of victory" .)