We observe thermalization in the production of a degenerate Fermi gas of polar ^{40}K^{87}Rb molecules. By measuring the atom-dimer elastic scattering cross section near the Feshbach resonance, we show that Feshbach molecules rapidly reach thermal equilibrium with both parent atomic species. Equilibrium is essentially maintained through coherent transfer to the ground state. Sub-Poissonian density fluctuations in Feshbach and ground-state molecules are measured, giving an independent characterization of degeneracy and directly probing the molecular Fermi-Dirac distribution.