See drama unfolding around Queen's Ball (10)
I believe the answer is:
masquerade
'ball' is the definition.
(masquerade ball is a kind of ball)
'see drama unfolding around queen's' is the wordplay.
I cannot really understand how this works, but
'queen' could be 'qu' (abbreviation for queen) and 'qu' is found within the answer.
This explanation may well be incorrect...
(Other definitions for masquerade that I've seen before include "pose" , "False show - disguise oneself" , "Pretence - masked ball" , "Dress up" , "Costume party" .)