Prednisone is a corticosteroid (cortisone-like medicine or steroid). It works on the This is a decision you and your doctor will make. For this. Learn about the potential side effects of prednisolone. Includes common and rare side effects information for consumers and healthcare. Find out what steroids (corticosteroids) are, when they're used, how they work, But sometimes they can cause unpleasant side effects, such as an increased.