Telechelic polyisoprene was synthesized via the ring-opening metathesis polymerization (ROMP) of 1,5-dimethyl-1,5-cyclooctadiene (DMCOD) in the presence of cis-1,4-diacetoxy-2-butene as a chain transfer agent (CTA). This method afforded telechelic polymer in excellent yield, and the acetoxy groups were successfully removed to yield alpha,omega-hydroxy end-functionalized polyisoprene with potential for subsequent reactions. Efficient, quantitative incorporation of CTA was achieved, and NMR spectroscopy was utilized to confirm the chemical identity of the polymer end groups. Polymerization of discrete DMCOD monomer generated polyisoprene with excellent regioregularity in the polymer backbone. Successful ROMP of sterically challenging DMCOD in the presence of a CTA for chain end-functionalization was borne out through screening of a variety of Ru-based olefin metathesis catalysts.