Is PRAGS a Wordle Word?

Yes. PRAGS is a valid Wordle word.

It is not on the Wordle answer list, so it is unlikely to be a daily answer.

Plurals ending in S are almost never chosen as Wordle answers.

What does PRAGS mean?

Handouts, financial aid (sometimes with the implication of having been acquired dishonestly).
Small gifts customarily given to guests.“Hosts take pride in offering their guests the best of what they have and try to laden them with choice goods as "prags" (gifts) to carry away.”

Definition from Wiktionary, available under the CC BY-SA license.

Starter word rating: AverageIn the top 32% of all valid Wordle words for testing common letters.
Vowels: A
Unique letters: 5 of 5
Common letters: R, A

Hard-mode trap: 8 valid words fit the pattern PRA_S. If you reach it, you may need several guesses to find the last letter.

Letter ratings use how often each letter appears in Wordle answers.

Tap its tiles to the colours Wordle showed, and the Wordle Solver lists every word that still fits, with the best next guess.