Raffle a revolutionary prize (5)
I believe the answer is:
award
'prize' is the definition.
(I know that prize can be written as award)
'raffle a revolutionary' is the wordplay.
'raffle' becomes 'draw' (a prize draw).
'revolutionary' says the letters should be written in reverse.
'draw'+'a'='drawa'
'drawa' backwards is 'AWARD'.
(Other definitions for award that I've seen before include "medal, say" , "Honour, prize" , "Gong (informal)" , "Trophy or medal, for example" , "Tony, say" .)