Klonopin is a benzodiazepine medication. It is a central nervous system depressant primarily used to treat panic disorders. Klonopin 2 mg works by enhancing the effects of a natural calming chemical in the brain called gamma-aminobutyric acid (GABA).Common side effects include drowsiness, dizziness, and coordination problems. Due to its potential for dependence and withdrawal symptoms, Klonopin 1 mg is often prescribed for short-term use. It is a controlled substance and should only be taken as directed by a healthcare professional.