Yes, caret is a Scrabble word!
...and is worth 7 points in Scrabble, and 8 points in Words with Friends
caret
Noun
1. A mark used by an author or editor to indicate where something is to be inserted into a text
What Scrabble words can I make with the letters in caret?
5 Letter Words
4 Letter Words
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3 Letter Words
2 Letter Words