The establishment of facile, efficient, and precise synthetic approaches to selectively convert stable C−H bonds to functional polymers has great significance in both chemistry and material science especially by C(sp 3 )−H activation. Here, an efficient dual C(sp 3 )−H activation polymerization of alkynes and activated methylenes catalyzed by Pd(PPh 3 ) 4 /benzoic acid was successfully established with a 100% atom economy and excellent regio-and stereoselectivity. A series of high-weight-average molecular-weight (M w of approximately 66,500) poly(aryl butene)s (PABs) with a sole E configuration were generated in remarkable yields (approximately 99%). PABs exhibit good thermal stability, excellent solubility, and great film-forming ability. In addition, the thin PAB films display high refractive indices (RI) of up to 1.7126 at 589 nm. Because this polymerization has a strong functional group tolerance, luminophores can be readily constructed into the main chain to empower PABs with efficient and multicolored luminescence in various states. Notably, PABs containing a tetraphenylethene (TPE) moiety feature unique aggregation-induced emission (AIE) peculiarities, which could specifically and sensitively detect Fe(III) ions with a low limit of detection (LOD) of 1.585 × 10 −6 M.