A new polyacetylene derivative with electroactive thiophene substituent, namely poly(2-methylbut-2-enylthiophene-3-carboxylate) was synthesized and characterized. For this purpose, novel acetylene monomer was synthesized by the reaction of 3-thiophenecarboxylic acid with propargyl bromide and polymerized with a Rh catalyst to give the corresponding polymer. The chemical structure of the polymer was characterized to comprise the conjugated backbone and electroactive thiophene side group. UV spectral changes of the polymer with temperature were also studied. The polymer exhibited better thermal stability than the unsubstituted polyacetylenes.