During the COVID-19 pandemic, alterations seem to be taking place not only in waking lives but also in dreaming minds. As such, the current pandemic allows people not only a glimpse of the way our dreams change in response to such drastic events but also a way to test specific theories about the functions of dreaming. What, if anything, are dreams for? Specifically, different dream theories propose that they mirror waking life, fulfill wishes, simulate threatening events, aid in social interaction and belonging, and regulate emotions. Given the specific ways the pandemic has affected our lives in the social, economic, and internal spheres, researchers can derive from some dream theories empirical hypotheses on the effects of the pandemic on dream contents. Dreams give a phenomenological perspective on what goes on within our minds when there is minimal or no ongoing external sensory input to furrow one’s experiences. Knowledge on how changes during waking life affect the contents of dreaming can be used for explanation, understanding, and prediction of internal reactions to cataclysmic events.