Supreme Court upholds TikTok ban

• TikTok said it would shut down the app on Sunday if the Supreme Court does not intervene, according to multiple reports.
• The platform has said even a temporary ban would caused irreparable harm to creators and the platform.
• Supporters of the law say the app poses a national security threat so long as it continues operating in the U.S. under Chinese parent company ByteDance.

What they're saying: "There is no doubt that, for more than 170 million Americans, TikTok offers a distinctive and expansive outlet for expression, means of engagement, and source of community," SCOTUS said.

• "But Congress has determined that divestiture is necessary to address its well-supported national security concerns regarding TikTok's data collection practices and relationship with a foreign adversary."
• "For the foregoing reasons, we conclude that the challenged provisions do not violate petitioners' First Amendment rights. The judgment of the United States Court of Appeals for the District of Columbia Circuit is affirmed."

On the central First Amendment question, SCOTUS said the law does not regulate creators "at all" and instead "directly" regulates ByteDance and TikTok through a divestiture requirement.

• TikTok and creators failed to identify a case in which SCOTUS has previously treated the regulation of corporate control as a regulation of expression.
• "We hesitate to break that new ground in this unique case," SCOTUS concluded.

Catch up quick: SCOTUS' move came after hearing oral arguments from TikTok and the Justice Department last week and appearing skeptical of the platform and its' creators arguments.

• President-elect Trump and TikTok both asked for a pause to give the incoming administration time to review the case.

We recently reported on five possible scenarios that could happen next for TikTok here. In short:

• Trump punts the law back to Congress.
• Trump issues an executive order.
• Trump grants a 90-day extension.
• Trump strikes a deal during the extension period.
• Trump tells his administration not to enforce the law.

Trump posted later on Friday that his "decision on TikTok will be made in the not too distant future, but I must have time to review the situation."

The big picture: With the law upheld, the options to save TikTok rest on shaky legal ground, ultimately leaving it up to U.S. companies to decide how much risk they want to take on.

What's next: We'll be watching what kind of deal Trump could try to broker as ByteDance refuses to let go of its powerful algorithm.

Editor's note: This story has been updated to include Trump's comment.