Why does running an HTTP Server on Separate Thread result in a Permission Denied Error Even With Network Permissions Enabled?

Question

I am trying to run an HTTP server on my Android device using Ktor and Jetty with the following code on a separate thread, such that it does not block UI rendering on the main thread:

Thread {
        ipAddress
            ?.let { it1 ->
                embeddedServer(Netty, host = it1, port = 80) {
                    routing {
                        get("/") {
                            Log.d("Fragment.kt", "Received request on get path /")
                        }

                        get("/url1") {
                            Log.d(
                                "Fragment.kt",
                                "Received request on get path /url1"
                            )
                        }
                    }
                }
            }
            ?.start(wait = true)
    }
    .start()

However, I get the following error:

FATAL EXCEPTION: Thread-22
Process: com.sampleapp.trainerapp.dev, PID: 17413
java.net.SocketException: Permission denied
    at sun.nio.ch.Net.bind0(Native Method)
    at sun.nio.ch.Net.bind(Net.java:442)
    at sun.nio.ch.Net.bind(Net.java:434)
    at sun.nio.ch.ServerSocketChannelImpl.bind(ServerSocketChannelImpl.java:223)
    at sun.nio.ch.ServerSocketAdaptor.bind(ServerSocketAdaptor.java:74)
    at io.netty.channel.socket.nio.NioServerSocketChannel.doBind(NioServerSocketChannel.java:143)
    at io.netty.channel.AbstractChannel$AbstractUnsafe.bind(AbstractChannel.java:562)
    at io.netty.channel.DefaultChannelPipeline$HeadContext.bind(DefaultChannelPipeline.java:1334)
    at io.netty.channel.AbstractChannelHandlerContext.invokeBind(AbstractChannelHandlerContext.java:600)
    at io.netty.channel.AbstractChannelHandlerContext.bind(AbstractChannelHandlerContext.java:579)
    at io.netty.channel.DefaultChannelPipeline.bind(DefaultChannelPipeline.java:973)
    at io.netty.channel.AbstractChannel.bind(AbstractChannel.java:260)
    at io.netty.bootstrap.AbstractBootstrap$2.run(AbstractBootstrap.java:356)
    at io.netty.util.concurrent.AbstractEventExecutor.runTask(AbstractEventExecutor.java:174)
    at io.netty.util.concurrent.AbstractEventExecutor.safeExecute(AbstractEventExecutor.java:167)
    at io.netty.util.concurrent.SingleThreadEventExecutor.runAllTasks(SingleThreadEventExecutor.java:470)
    at io.netty.channel.nio.NioEventLoop.run(NioEventLoop.java:569)
    at io.netty.util.concurrent.SingleThreadEventExecutor$4.run(SingleThreadEventExecutor.java:997)
    at io.netty.util.internal.ThreadExecutorMap$2.run(ThreadExecutorMap.java:74)
    at io.ktor.server.netty.EventLoopGroupProxy$Companion.create$lambda$1$lambda$0(NettyApplicationEngine.kt:291)
    at io.ktor.server.netty.EventLoopGroupProxy$Companion.$r8$lambda$XgnKz7L6tCWRUaIAa7SVURwtFE4(Unknown Source:0)
    at io.ktor.server.netty.EventLoopGroupProxy$Companion$$ExternalSyntheticLambda1.run(Unknown Source:2)
    at io.netty.util.concurrent.FastThreadLocalRunnable.run(FastThreadLocalRunnable.java:30)
    at java.lang.Thread.run(Thread.java:923)

This seems strange, considering that I believe I have the relevant network permission in AndroidManifest.xml.

<uses-permission android:name="android.permission.INTERNET" />

If anybody could provide insights, that would be greatly appreciated.