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Will ByteDance sell its stake in TikTok by the end of 2024?
5
Resolution / Starting Odds
ByteDance sells its stake • 50%
ByteDance retains its stake • 50%
ByteDance official announcements or credible business news reports
Story
TikTok Sues U.S. Over Law Threatening Ban, Cites First Amendment Rights
May 7, 2024, 09:42 PM
TikTok and its Chinese parent company ByteDance have filed a lawsuit against the U.S. government challenging a new law signed by President Joe Biden. The law mandates ByteDance to either sell its 20% stake in TikTok or face a ban of the app in the United States, affecting its 170 million users. The companies argue that the law, which could force TikTok to shut down by January 19, 2025, violates the First Amendment rights of its users. They claim the law is unconstitutional and have sought judicial intervention to prevent its enforcement.
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