Astronomers are saying that it's the first carbon-rich planet ever observed. Planets in our solar system typically have a 1 to 2 carbon to oxygen ratio, Wasp-12b, on the other hand, has more carbon than oxygen. Because of all that carbon (and that there's no water on the planet), astronomers believe that Wasp-12b could have diamonds in its core (but current technology is limiting them from seeing the actual core).
Before you start building your DIY space shuttle though, you should know that the planet is 1,200 light years away and ridiculously, ridiculously hot (like 2315 degrees Celsius hot). There was also murmurs that Wasp-12b was going to be eaten by its star. So maybe diamonds aren't forever. [The Star via BBC]
Image Credit: NASA