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Cationic polymerization is a powerful strategy for the production of well-defined polymers and advanced materials. In particular, the emergence of living cationic polymerization has enabled pathways to complex polymer architectures inaccessible before. The use of light and electricity as external stimuli to regulate cationic polymerization represents another advance with increasing applications in surface fabrication and patterning, additive manufacturing, and other advanced material engineering. The past decade also witnessed vigorous progress in stereoselective cationic polymerizations, allowing for the dual control of both the tacticity and the molecular weight of vinyl polymers towards precision polymers. In addition, in addressing the plastics pollution crisis and achieving a circular materials economy, cationic polymerization offers unique advantages for generating chemically recyclable polymers, such as polyacetals, polysaccharides, polyvinyl ethers, and polyethers. In this review, we provide an overview of recent developments in regulating cationic polymerization, including emerging control systems, spatiotemporally controlled polymerization (light and electricity), stereoselective polymerization, and chemically recyclable/degradable polymers. Hopefully, these discussions will help to stimulate new ideas for the further development of cationic polymerization for researchers in the field of polymer science and beyond.