palladium‐catalyzed regiodivergent C1 insertion multicomponent reaction involving aryne, CO, and 2‐iodoaniline is established to construct the scaffolds of phenanthridinone and acridonealkaloids. Regioselective control is achieved under the guidance of selective ligands. The phenanthridinones are solely obtained under ligand‐free condition. In comparison, application of the electron‐abundant bidentate ligand dppm