A polymeric flame retardant (PDEPD) and various amounts of sodium montmorillonite (Na‐MMT) nanocomposites with exfoliation structure were prepared via one‐step polycondensation, attempting to prepare flame‐retardant nanocomposites. The nanocomposites exhibited high thermal stability at high temperature. Based on several comparative studies, we investigated and proposed the possible exfoliation mechanism of Na‐MMT in PDEPD substrate. The microscale combustion calorimeter and cone calorimeter results showed the PDEPD/Na‐MMT nanocomposites could significantly improve the flame retardancy of polystyrene and polyurethane elastomer (TPU), especially the TPU matrix. This study provides new viewpoint for preparing flame‐retardant nanocomposites without surfactants. POLYM. COMPOS., 35:167–173, 2014. © 2013 Society of Plastics Engineers