Magnetic first-order phase transitions are key for the emergence of functionalities of fundamental and applied significance, including magnetic shape memory as well as magnetostrictive and magnetocaloric effects. Such transitions are usually associated with thermomagnetic hysteresis. We report the observation of a first-order transition in Pr2In from a paramagnetic to a ferromagnetic state at TC=57K without a detectable thermomagnetic hysteresis, which is also accompanied by a large magnetocaloric effect. The peculiar electronic structure of Pr2In exhibiting a large density of states near the Fermi energy explains the highly responsive magnetic behavior of the material. The magnetic properties of Pr2In are reported, including observation of another (second-order) magnetic transition at 35 K.