Diddy was just found guilty on two of five counts in his federal trial, which could land him in prison for the next 20 years … and, we’ve got the whole scene outside the courthouse ready for you to watch.

The rapper was found guilty on two counts of transportation to engage in prostitution and not guilty on racketeering and sex trafficking charges.

Diddy’s family left the courthouse shortly after the verdict was read … and, his mother, Janice gave a thumbs-up to the assembled crowd.

Diddy’s trial began in early May, and we heard testimony from two of his ex-girlfriends including Cassie Ventura and a woman only identified by her pseudonym “Jane.”

Dawn Richard, Kid Cudi and several of Diddy’s former assistants — including “Mia,” another woman testifying under a pseudonym — testified against him during the trial … and, Kanye West even made a brief appearance.

The verdict came down Wednesday morning while we were live streaming from inside the TMZ newsroom … and, it shocked many. The gallery at the trial broke into applause after the verdict was read.

Press conferences are going down outside the courthouse … stay tuned with us to see all the action.