JSFiddle - React, Tailwind, and code Playground

HTML

<button>Test</button>

JavaScript

$("button").click(function (event) {
  $("body").trigger("some-custom-event");

  // If the custom event was prevented, prevent original one too
  if (true) { // How to check?
    event.preventDefault();
  }
})

$("body").on("some-custom-event", function (event) {
  if (Math.random() > .5) {
    console.log("prevent");
    event.preventDefault();
  } else {
    console.log("allow");
  }
})