The consequence would be the states which have converted their award of Electoral Votes to the winer of the national popular vote.
I was hoping Trump would gear his win to picking up the popular vote total so he could grab those mostly blue state votes, but the cut back on Rallies due to virus has put a damper on his prosletizing.
This article from 2018 says 11 states have made the pledge. Probably more by now. We need a current list. I think Va is on there and that would be a significant pickup in EVs
https://hellogiggles.com/news/lgbtq-workplace-protection-supreme-court-ruling/