Spoils from Peterloo taken (4)
I believe the answer is:
loot
'spoils' is the definition.
(both can mean a reward or proceeds)
'from peterloo taken' is the wordplay.
'from' indicates a hidden word.
'LOOT' is hidden in the letters of 'peterloo taken'.
(Other definitions for loot that I've seen before include "rifle" , "Burglar's takings - pillage" , "Booty, spoils" , "Plunder - booty" , "Orton play; ill-gotten gains" .)