Passed in April last year, the law says ByteDance must sell the US version of the platform to a neutral party to avert an outright ban.
TikTok challenged the law, arguing it violates free speech protections for its 170 million users in the country.
But the Supreme Court’s ruling means the US version of the app will be removed from app stores and web hosting services unless a buyer is found in the coming days.
It had been thought the ban would not impact TikTok users who already have the app downloaded on their phones.
But given updates would become unavailable once the ban comes into force, the app would eventually degrade and become unusable over time.
TikTok’s fresh statement on Friday, however, suggests it may immediately become unavailable to all existing users as well as those seeking to download it.
Influencers and content creators have been posting videos on the app bidding farewell to their followers ahead of the impending ban.
One creator, Nicole Bloomgarden, told the BBC not being on TikTok would amount to a significant salary cut, while another, Erika Thompson, said the educational content on the platform would be the “biggest loss” for the community.
Some users have been announcing where their content will be available to view next, including on the Chinese video app, Red Note, which has been little used by American users up until now.
President Joe Biden’s term is due to end on Monday, with Donald Trump due to be sworn in as the next president on that day. The White House earlier said it would therefore fall on the incoming president to enforce the law.
Trump has indicated he is against the ban, after initially supporting the move. “My decision on TikTok will be made in the not too distant future, but I must have time to review the situation,” he said on Friday.
He also revealed he had spoken to China’s President Xi Jinping and discussed TikTok, among other issues.
In December Trump said he had a “warm spot” for the app as it helped him with young voters in the 2024 election.
Trump’s comments marked a U-turn on his stance in his first term as president when he aimed to enact a similar ban through an executive order.
ByteDance has vowed not to sell TikTok and said it planned to shut US operations of the app on Sunday unless there is a reprieve.
Democratic and Republican lawmakers voted to ban the video-sharing app last year, over concerns about its links to the Chinese government. TikTok has repeatedly stated it does not share information with Beijing.
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