Yes, it is possible. Implementation will very depending on which version you are using, however, instructions should be in the corresponding product guide.
i'm using DLP 10.0.100, i have looked through the product guide and can't find anywhere that says you can exempt by device for Data Protection rules, only by user
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Assuming 'Removable Storage Protection' then I can not see a way to do that as there is no device field nor is there a way of adding one.
The other approach is to create an End-User Group containing those using the exempted devices. Then exclude that group from the rule. The downside is you still can not differentiate by specific device.
*edited for clarity*