Yes, but is the startup time of Django an issue? Besides that you'd have to return your data in the shape that the API gateway expects from lambdas.

Returning a 500 would look something like this:

    {
     "statusCode" : 500,
      "headers" : {
        "content-type": "text/plain; charset=utf-8"
     },
     "body" : "Some error fetching the content"
   }