A newly found transcription factor-DREAM can bind specifically with downstream regulatory element of genes, such as PPD, Hrk and c-Fos, and repress gene expression. It represents the first known Ca2+ binding protein to function as a DNA-binding transcription regulator. This provides a new mechanism of Ca2+ dependent regulation of gene expression in addition to protein kinase/phosphatase signaling pathway. In fact, DREAM, calsenilin and KChIP3, which are identified by different laboratories, are the same protein. So DREAM is a multifunctional protein, including PS interacting protein, Kv4 regulatory protein and transcription factor. The distribution, function and regulation of DREAM, as well as relationship between DREAM and pain, are reviewed in the present article.