Progress in the polymerization of substituted acetylenes and the properties and functions of the formed polymers that have been synthesized in the past several years are surveyed. Polymerizationcatalysts for substituted acetylenes, new monomers and polymers, controlled polymerizations, and photoelectronic functions and separation membranes of substituted polyacetylenes are discussed. A focus is placed on the development of novel rhodiumcatalysts for the polymerization of phenylacetylenes, the helical structures of the polymers obtained from chiral monosubstituted acetylenes, and highly gas-permeable polymers prepared from disubstituted acetylenes, in which great advances have been made recently.