The US House of Representatives widely passed a bill that could potentially lead to a ban of TikTok in the United States. In a 352 to 65 vote (with one "present" vote), the House passed a bill that would require Chinese-owned ByteDance to divest TikTok in order to keep it operating in the US. Lawmakers are concerned that China could use the app to gather information about US citizens. The bill still has to go through the Senate, where its prospects are murkier. President Joe Biden has said he would sign the bill if it gets to his desk.

Yahoo Finance's Yahoo Finance's Seana Smith and Madison Mills report the breaking news in the video above.

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Editor's note: This article was written by Stephanie Mikulich

Video Transcript

SEANA SMITH: Breaking news. The US House of Representatives passing the bill that could lead to a ban of social media giant TikTok. The motion passing with 352 votes compared to 65 no votes. It now moves on to the Senate, where we know, Maddie, you and I have been talking all morning about the fact that this bill faces a much more uncertain future in the Senate, whether or not it's going to be able to pass that and then ultimately get to President Biden's desk.

President Biden has said that he does plan to sign the bill if the bill does pass both the House and the Senate. And it's interesting that they were able to do this by such a wide margin, given the fact that earlier this week, President Trump pushed back on a ban of TikTok, saying that he doesn't necessarily endorse it at this time.

MADISON MILLS: Well, and it's interesting hearing former President Trump kind of shift the narrative over to Meta. Having said that, after this went through the House, we are seeing some of those potential plays off this news going upward in the market here. We're seeing Netflix, Meta, and Snap, all names that Angelo Zino from CFRA who was on with us earlier was mentioning could be potential beneficiaries if there were to be a potential TikTok ban.

But I'm curious to see what happens next here because as you mentioned, this has to go to Senate. President Biden has said that he would sign this through once it hits his desk. So it might take a little bit more time for this to fully unfold here. But the last piece that I continue to be interested in is China's response.

China leader saying overnight that the proposed TikTok ban would come back to bite the US. What does that mean for US-China relations moving forward when it comes to the financial relationship between these two companies, given that the House did move forward with this vote today?

SEANA SMITH: Yeah. We know TikTok has said that it is going to use every legal tool available to fight this if, in fact, it does pass the Senate as well and is signed into law by President Biden. So TikTok really focusing on the Senate as the House votes to pass this bill here. 352 votes compared to 65 nos.