Trump has previously asked the Supreme Court to delay the ban – which would go into effect one day before he is sworn into office – so he can seek a “political” solution.
Congress passed a bipartisan law last year that gave TikTok’s owner, ByteDance, nine months to find a US-approved buyer or face a ban of the platform in the United States.
The legislation does not forbid use of the app, but would require tech giants such as Apple and Google to stop offering it and inhibit updates, which analysts suggest would kill it over time.
President Joe Biden signed the bill into law last April as part of a package that provided aid to Ukraine and Israel.
But NBC News reports that Biden, too, has been considering ways to keep the app available if a ban goes into effect.
Under that plan, they would defer the issue, according to three people familiar with the matter who spoke to NBC.
TikTok and ByteDance deny being linked to the Chinese government. They have also ruled out a sale.
The Supreme Court heard TikTok and Bytedance’s arguments against the law last week.
A decision is expected any day.
Both Biden and Trump have reversed their stances on the platform.
Trump attempted to ban the app during his first term in office, but said on the campaign trail this year that he would protect it.