The Diddy trial is mostly in the books after the jury acquitted him of the most serious charges -- racketeering and sex trafficking -- and prosecutors are coming out looking like huge losers.

Diddy learned his fate Wednesday when a jury of his peers reached a verdict in his criminal case ... and they only found him guilty on a pair of lesser charges ... two counts of the Mann Act -- transportation for prostitution across state lines.

The Bad Boy Records founder skated on the bigger charges and there's no way prosecutors would have brought this case if all they had on Diddy was a prostitution offense.

Idaho's Death Row is home to 9 prisoners convicted of murder ... and Bryan Kohberger might have been the 10th -- if he hadn't cut a plea deal with prosecutors in the face of overwhelming evidence against him.

And get this ... Kohberger would have been the worst of the worst in terms of body count compared with the other condemned inmates, but his life's been spared.

As everyone knows, Kohberger's heinous killing spree claimed the lives of 4 University of Idaho students who were found butchered inside an off-campus house in 2022. TMZ did a little digging and uncovered some interesting facts about Idaho's Death Row.

Diddy might be headed off to prison, but his image will recover given a little time ... so says prominent defense lawyer Jose Baez.

The lawyer who repped Casey Anthony and Aaron Hernandez joined us on "TMZ Live" Wednesday -- hours after Diddy was found guilty on two counts of transportation to engage in prostitution and not guilty of racketeering and sex trafficking.

Jose says Diddy's going to "bounce back" from this ... especially in the music industry, where he guesses artists will be willing to overlook his convictions if it means making a hit record.

Ray J returned to "TMZ Live" on Wednesday to remind everyone he's a card-carrying member of Team Diddy -- and is even disputing the 2 fed counts Puff was found guilty of!!!

The way Ray J sees it ... Diddy was entangled in consensual freak-offs and should NOT be punished by jail time.

Prosecutors are actively arguing that Diddy is an ultraviolent menace to society -- but Ray J's predicting his homie's prison release by the end of business day, where he'll charter a plane to Miami and exhale for the 4 of July weekend!!! (We learned later in the day the judge denied bail, and Diddy will remain locked up until his sentencing hearing, scheduled for October.)

Joe Tacopina is taking a victory lap at the expense of federal prosecutors ... because he's always said the racketeering and sex trafficking charges against Diddy didn't add up -- and a jury agreed.

The famous defense attorney joined us on "TMZ Live" Wednesday and ripped prosecutors for bringing what he says were trumped-up charges against Diddy.

Joe, who's been banging this drum for months now on our weekly series on Tubi, "TMZ Presents: United States V. Sean Combs: Inside the Diddy Trial," says the evidence and testimony never pointed towards racketeering or sex trafficking.

Cassie's worried about what Diddy might do to her if the judge lets him out on bail prior to his sentencing ... and, she's asking the judge to make sure she never finds out.

The singer-songwriter submitted a letter to the court Wednesday requesting the judge not allow Diddy to head back into the world before he's sentenced for his conviction on two counts of transportation to engage in prostitution.

Cassie and her attorney, Douglas Wigdor, say Diddy is "likely to pose a danger to the victims who testified in this case" -- including Cassie herself.

Funk Flex isn't letting Cassie off the hook despite her immunity in Diddy's RICO trial ... considering the "Me & U" singer received a huge payout in exchange for her silence years ago!!!

On Wednesday, the Hot 97 disc jock exploded on Cassie and her attorneys ... picking apart her "victim" label, while also acknowledging she and her family experienced a hardship.

Flex recalls seeing Cassie give off good energy at a young age, but thinks the lines blurred once her relationship with Diddy got underway.

Diddy's supporters are beginning to draw lines in the sand -- and Jay Electronica's standing firmly on the side that wants the Bad Boy mogul free ASAP!!!

TMZ Hip Hop linked up with Jay-E on Wednesday as he casually blended in amid the calamity outside the courthouse in Manhattan ... although his two huge Great Danes most definitely stood out!!!

His reaction was tamer than most -- Jay's mostly a man of few words, but he tells us he was outside the building to support his longtime pal Diddy, and he never had a doubt his boy would come out on top.

Diddy's son Christian "King" Combs was bursting with energy after learning his dad was acquitted of racketeering and sex trafficking charges, and burned off his excitement with a round of push-ups!!!

KC was spotted a couple blocks away from the courtroom after the verdict on Wednesday, and you can see him beaming with enthusiasm as he thanked fans for their thoughts and prayers.

You can also hear the sounds of his recently released joint EP with Kanye West, "Never Stop" ... a project that has new meaning now that Diddy could be coming home soon if he's granted bail.

Prosecutors are vehemently opposed to letting Diddy out on bond ... they say his convictions for the Mann Act make him a violent criminal.

The feds just fired off a letter to Judge Arun Subramanian outlining the reasons why they say he should remain in custody pending sentencing for his conviction on two counts of transportation of prostitutes across state lines.

In the docs, obtained by TMZ, prosecutors say Diddy is trying to use the Bail Reform Act to get released on bail pending sentencing ... but they say detention is mandatory for Diddy based on the crimes for which he was found guilty.

Bryan Kohberger appeared in court to make his controversial plea deal legal in the eyes of the law ... admitting guilt to four murders -- and, the judge has signed off on the plea.

The judge began proceedings Wednesday by asking for people in the courtroom not to be disruptive ... and, he chastised the public for calling his office to dispute the plea deal. He said he hasn't read or listened to any of the messages left at his office.

Kohberger stood up in the courtroom and was sworn in by the clerk, and said "yes" when asked if he's pleading guilty because he's actually guilty and not just to avoid the death penalty.

Diddy had a message for his family after skating on the most serious charges in his criminal trial ... "I'm coming home."

After the not guilty verdicts for racketeering and sex trafficking were read in court Wednesday, Diddy turned around in his seat and nodded to his family and told them he would see them soon.

Diddy's mom, Janice Combs, was seated behind him in the gallery ... along with his three daughters and his sons Christian, Justin and Quincy ... plus Dana Tran, the mother of his youngest child, and a bunch of extended family members.

Diddy's team is preparing for his possible release by ramping up security at his Miami estate, where he would return if he's allowed out while awaiting sentencing … TMZ has learned.

Multiple sources familiar with the situation tell TMZ … within the last couple of hours, the music mogul's team began making arrangements for his potential return -- including increased security measures at his waterfront estate on the exclusive, guard-gated Star Island.

We’re told security has been beefed up both at his property and at the entrance to the island, as media and paparazzi have already started swarming the area in anticipation of his release.

Diddy will still need to wait to receive his sentence ... but, the jury's role in the process is done -- and, they have officially pulled an Elvis and left the building.

Multiple cameramen captured the jury leaving the federal courthouse in Manhattan in a black van with opaque windows, mostly hiding their faces. However, our reporters on the scene assure us these are the 12 people who decided the rap mogul's fate.

The van rolled out past the photogs and over a removable barrier ... before joining the rest of the busy NYC traffic.

The final verdict in the Sean "Diddy" Combs federal criminal trial is in, and it's NOT GUILTY on 3 of the 5 counts -- they acquitted him of racketeering, sex trafficking of Cassie and sex trafficking of Jane.

He's only been convicted on counts 3 and 5 ... which are both transportation for the purpose of prostitution, AKA the Mann Act. He faces a maximum sentence of 10 years for each of those counts.

Wednesday morning, about an hour after jurors arrived and went straight into the jury room, the foreman sent a note out to Judge Arun Subramanian telling him they'd reached the unanimous verdict.