Yes, Protestants do celebrate Christmas. Although Protestant denominations vary in their level of emphasis on Christmas, the holiday is generally observed as a time for reflection, worship, and celebration of the birth of Jesus Christ. Many Protestants attend Christmas Eve services and exchange gifts with family and friends, just like their Catholic and Orthodox counterparts. In addition, Protestant churches often have special Christmas services that incorporate carols, readings, and special prayers. So, while there may be some differences in the way Christmas is celebrated among Protestants, the holiday remains an important part of their religious tradition.