Yes, planet is playable
...and is worth 11 points.
Found in the following dictionaries
Enable (Words with friends)
SOWPODS (Collins Scrabble Words)
OTCWL2014 (NASPA Word List 2014)
TWL06 (NASPA List 2006)
"Planet" Definition
noun
A celestial body that orbits the sun, has sufficient mass to assume nearly a round shape, clears out dust and debris from the neighborhood around its orbit, and is not a satellite of another planet.
In the traditional model of solar systems, a celestial body larger than an asteroid or comet, illuminated by light from a star, such as the sun, around which it revolves.
One of the seven celestial bodies, Mercury, Venus, the moon, the sun, Mars, Jupiter, and Saturn, visible to the naked eye and thought by ancient astronomers to revolve in the heavens about a fixed Earth and among fixed stars.
One of the seven revolving astrological celestial bodies that in conjunction with the stars are believed to influence human affairs and personalities.
Any of the seven celestial bodies sun, moon, Venus, Jupiter, Mars, Mercury, and Saturn that in ancient belief have motions of their own among the fixed stars.
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