The Supreme Court could rule on TikTok’s fate as soon as Wednesday, after justices signaled during oral arguments Friday they may uphold the federal law banning TikTok unless it divests itself from ByteDance, expressing skepticism of TikTok’s opposition to the policy.

The Supreme Court on Friday was divided over the constitutionality of a federal law that would require social-media giant TikTok to shut down in the United States unless its Chinese parent company can sell it by Jan.