Yes, pranks is a Scrabble word!
...and is worth 12 points in Scrabble, and 14 points in Words with Friends
pranks
Verb
1. Dress or decorate showily or gaudily
2. Dress up showily
Noun
1. Acting like a clown or buffoon
2. A ludicrous or grotesque act done for fun and amusement
What Scrabble words can I make with the letters in pranks?
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Words that can be created with an extra letter added to pranks:
E:spanker