A thermally stable carbocationic covalent organic network (CON), named RIO‐70 was prepared from pararosaniline hydrochloride, an inexpensive dye, and triformylphloroglucinol in solvothermal conditions. This nanoporous organic material has shown a specific surface area of 990 m2 g−1 and pore size of 10.3 Å. The material has CO2 uptake of 2.14 mmol g−1 (0.5 bar), 2.7 mmol g−1 (1 bar), and 6.8 mmol g−1 (20 bar), the latter corresponding to 3 CO2 molecules adsorbed per pore per sheet. It is shown to be a semiconductor, with electrical conductivity (σ) of 3.17×10−7 S cm−1, which increases to 5.26×10−4 S cm−1 upon exposure to I2 vapor. DFT calculations using periodic conditions support the findings.