Yes, JUDGMENT is a Scrabble word!

Letter values in Scrabble US: J 8, U 1, D 2, G 2, M 3, E 1, N 1, T 1.

Is it a valid word?

JUDGMENT is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

an opinion formed by judging something
the act of judging or assessing a person or situation or event
(law) the determination by a court of competent jurisdiction on matters submitted to it
the cognitive process of reaching a decision or drawing conclusions
the legal document stating the reasons for a judicial decision
the capacity to assess situations or circumstances shrewdly and to draw sound conclusions
the mental ability to understand and discriminate between relations

Also: judicial decision, legal opinion, sound judgment, sound judgement.