TikTok’s attempt to overturn a law that could see the app banned or sold in the US by early 2025 was rejected by a federal appeals court, which upheld the law as a bipartisan measure addressing national security concerns over the app’s Chinese ownership.
While TikTok argued the law infringed on the free speech of its 170 million US users, the court deemed it narrowly focused on mitigating risks posed by foreign adversaries. TikTok plans to take the case to the US Supreme Court, arguing the law is unconstitutional and based on flawed information, while asserting that a ban would unjustly censor Americans.
The upcoming presidential transition has added uncertainty to TikTok’s fate, with President-elect Donald Trump suggesting he would prevent the ban from taking effect, despite strong bipartisan anti-China sentiment in Congress.
Meanwhile, platforms like Meta and YouTube are poised to benefit from a TikTok ban, potentially reshaping the social media landscape. Creators reliant on TikTok, however, fear losing audiences and income, as the app’s rivals struggle to replicate its success. Analysts warn a ban could lead to significant disruption for businesses and creators while boosting competitors in the short-form video market.
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Works out fine for some…
https://x.com/WallStreetApes/status/1868524006049194169