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A gold(I)‐catalyzed cascade [3,3]‐propargylic rearrangement and [4+2] cycloaddition reaction of 2‐vinylindoles with propargylic esters is reported. The reaction leads to the synthesis of highly substituted tetrahydrocarbazole derivatives in high yields and diasteroselectivities. Furthermore, a preliminary screening for an asymmetric version of this reaction is described.