No, it actually doesn't. The Palestine you are thinking about is the land that stretches from Israel, through the West Bank, and includes Jordan. That is the original Palestine.

The place that is now called 'Palestine' consists of three areas - Gaza (which was part of Egypt), Golan Heights (which was part of Syria), and the West Bank which was part of Jordan.

That land came into Israel's 'possession' in 1967 when 8 or 9 Middle East Nations went to war against Israel because they didn't want Israel in the Middle East. In short, the area that is now known as Palestine was established in 1967l