Prednisone is used to treat allergic disorders, ulcerative colitis, psoriasis and arthritis. Learn about side effects, interactions and indications. Prednisone provides relief for inflamed areas of the body. It is used to treat a number of different conditions, such as inflammation (swelling). Find patient medical information for Prednisone Oral on WebMD including its uses, side effects and safety, interactions, pictures, warnings and user ratings.