prize money vs award

prize money and award both are nouns.

Word	Noun	Adjective	Verb	Adverb
prize money	Yes	No	No	No
award	Yes	No	Yes	No

As nouns, award is a hypernym of prize money; that is, award is a word with a broader meaning than prize money:

prize money: any money given as a prize
award: something given for victory or superiority in a contest or competition or for winning a lottery

Other hypernyms of prize money include prize.

prize money (noun)	award (noun)
any money given as a prize	a grant made by a law court
	a tangible symbol signifying approval or distinction
	something given for victory or superiority in a contest or competition or for winning a lottery

prize money (verb)	award (verb)
	give, especially as an honor or reward
	give as judged due or on the basis of merit