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Market
Primary reason cited for TikTok's U.S. shutdown
4
Resolution / Starting Odds
Legal pressures from the U.S. government • 25%
Economic reasons • 25%
Strategic business decision • 25%
Pressure from the Chinese government • 25%
Official statements or press releases from ByteDance
Story
ByteDance to Shut Down TikTok in U.S. if Required to Sell, Biden's Law Sets One-Year Deadline
Apr 26, 2024, 03:26 PM
ByteDance, the Chinese parent company of TikTok, has declared it would prefer to shut down the app in the U.S. rather than sell it, following new legislation signed by President Joe Biden. The law requires ByteDance to divest TikTok within one year or face a nationwide ban. This decision underscores ByteDance's reluctance to sell the core algorithms integral to TikTok's operations, which the company won't sell. The company has indicated it would exhaust all legal options to fight the ban, suggesting a significant legal battle ahead. The Chinese government has also hinted at blocking the sale, further complicating the situation.
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Banned • 33%
Restricted Use • 34%
No Change • 33%
Shutdown operations • 33%
Sell majority stake • 33%
Maintain current operations without changes • 34%
Continues operation under new ownership • 33%
Ceases operations • 33%
Operates with significant restrictions • 34%
Continues Operation • 33%
Limited Operation • 33%
Ceases Operation • 34%
Complete ban • 33%
Forced sale • 33%
No action taken • 33%
Other countries implement similar bans • 25%
Other countries take no action • 25%
Other countries negotiate with the U.S. • 25%
Other countries support TikTok legally • 25%