Let the trapezium $ABCD$ be isosceles and the parallel sides be $AB$ and $CD$. The equal length non-parallel sides are $BC$, $DA$. The angles $\angle DAB$ and $\angle CDA$ are supplementary in the parallel lines so $\angle DAB + \angle CDA = \pi$.
The trapezium is symmetric so the angles $\angle DAB$ and $\angle ABC$ are equal.
So we have $\angle ABC + \angle CDA = \pi$, i.e. we have opposite angles in the trapezium add up to $\pi$. This is necessary and sufficient for a quadrilateral to be cyclic.
For a visual illustration, draw a isosceles trapezium, then draw the perpendicular bisectors of the two non-parallel sides. Think about the distance from the point where the bisectors intersect and each of the vertices of the trapezium.