Gamma-ray Bursts (GRBs) are the most powerful transients in the Universe, over-shining for a few seconds all other γ-ray sky sources. Their emission is produced within narrowly collimated relativistic jets launched after the core-collapse of massive stars or the merger of compact binaries. THESEUS will open a new window for the use of GRBs as cosmological tools by securing a statistically significant sample of high-z GRBs, as well as by providing a large number of GRBs at lowintermediate redshifts extending the current samples to low luminosities. The wide energy band and unprecedented sensitivity of the Soft X-ray Imager (SXI) and X-Gamma rays Imaging Spectrometer (XGIS) instruments provide us a new route to unveil the nature of the prompt emission. For the first time, a full characterisation of the prompt emission spectrum from 0.3 keV to 10 MeV with unprecedented large count statistics will be possible revealing the signatures of synchrotron emission. SXI spectra, extending down to 0.3 keV, will constrain the local metal absorption and, for the bright-Merisiers,