Is buying USDT risky?

I'm considering investing in USDT, but I'm a bit concerned about the risks involved. Could you please elaborate on the potential risks associated with purchasing USDT? I've heard that it's a stablecoin pegged to the US dollar, but I'm still unsure about its volatility and the underlying risks. Could you also explain how the price of USDT is determined and whether it's affected by market forces? Additionally, I'd like to know about the regulatory environment surrounding USDT and any potential legal issues that investors should be aware of. Thank you for your help.