Detailed mechanistic understanding of the optoelectronic features is a key factor in designing efficient and stable photoelectrodes. In situ spectroelectrochemical methods were employed to scrutinize the effect of trap states on the optical and electronic properties of CuI photoelectrodes and to assess their stability against (photo)electrochemical corrosion. The excitonic band in the absorption spectrum and the Raman spectral features were directly influenced by the applied bias potential. These spectral changes exhibit a good correlation with the alterations observed in the charge-transfer resistance. Interestingly, the population and depopulation of the trap states, which are responsible for the changes in both the optical and electronic properties, occur in a different potential/energy regime. Although cathodic photocorrosion of CuI is thermodynamically favored, this process is kinetically hindered, thus providing good stability in photoelectrochemical operation.