No, you can’t actually make real money by playing Coin Master. It’s because Coin Master coins are not real coins. But, you need to note here that it is possible to buy Coin Master points by spending real money.
So, if you have an old Coin Master account that has a lot of features and villages unlocked, you may be able to sell that account and get some money out of it. But, in a general sense, it’s not possible to make money by playing coin master.