There's no such thing as Palestine. There has never been a sovereign, independent nation-state called Palestine with its own defined borders, independent government exercising full control, currency, and international recognition as a fully independent country in the modern sense. The region has been the traditional home of the Jewish people for nearly 3,000 years.
“Palestine” has long been a geographic name for a region (roughly the area between the Mediterranean Sea and the Jordan River, sometimes broader), not the name of a sovereign polity. The term derives from the Roman renaming of the province of Judea as Syria Palaestina after the Bar Kokhba revolt in the 2nd century AD, drawing on the earlier name associated with the Philistines.