Novel carbazole‐containing acetylene monomer, 1‐(3‐ethynyl‐9‐carbazoyl)−4‐(9‐carbazoyl)benzene 1 was synthesized, polymerized, and copolymerized with phenylacetylene (PA) using [(nbd)RhCl]2‐Et3N, Rh+(nbd)[η6‐C6H5B–(C6H5)3], and WCl6‐Ph4Sn as catalysts. Polymers with number‐average molecular weights ranging from 7800 to 33,200 were obtained in 60%–quantitative yields. The absorption band edge of poly(1‐co‐PA) (1:PA = 8:2) was positioned at a wavelength longer than those of 1 and polyvinylcarbazole. Poly(1‐co‐PA) (1:PA = 8:2) emitted fluorescence with 60% quantum yield. Poly(1‐co‐PA) (1:PA = 8:2) worked as a hole transport material of an OLED with tris(8‐hydroxyquinoline)aluminum (Alq3) as an emission material. © 2015 Wiley Periodicals, Inc. J Polym Sci Part A: Polym Chem 2015, 53, 1245–1251