Carbon monoxide (CO) and norbornadiene (NBD) with Pd(CH3CN)(4)(BF4)(2) were copolymerized under various conditions at 50 degrees C. Elemental analysis, infrared spectra, UV, Raman, and NMR spectra showed that the copolymers contained both ketone and unsaturated ring structures. Bidentate nitrogen Ligands and phosphorus Ligands proved to be more effective at stabilizing catalytic activity than monodentate arsenic Ligands or phosphorus ligands. Methanol, protic acid, and an oxidant served as the coinitiator and chain transfer agent, respectively. X-ray diffraction analysis showed the copolymer to be partially crystalline. Thermogravimetric analysis showed that the TG curve for the NBD/CO copolymer has two stages with two maxima peaks at 251 and 470 degrees C. This phenomenon was probably due to increased instability of the copolymers as CO content is increased. Hydrogenation of norbornadiene/CO copolymer with LiAlH4 and Pd/C in THF yields a hydroxyl-containing polymer and norbornene/CO copolymer, respectively.