ZID16PM, a zwitterionic hydrophobic associating polymer, has equivalent positive and negative charges and some hydrophobic monomers with twin-tailed long hydrophobic chains. It exhibits a great heat resistance and salt tolerance to the common salt in formation brine (MgCl2, CaCl2, NaCl, and KCl), which is attributed to its anti-polyelectrolyte effect and strong association force. High-salinity water (seawater or formation water) can be prepared as a fracturing fluid directly. In this paper, the formation water of the West Sichuan Gas Field is directly prepared into fracturing fluid with a concentration of 0.3% ZID16PM (Fluid-1), and the seawater of the Gulf of Mexico is directly prepared into fracturing fluid with a concentration of 0.3% ZID16PM (Fluid-2). Finally, rheological measurements, proppant suspension tests, and core matrix permeability damage rate tests for the Fluid-1 and Fluid-2 are conducted. Results show that after 120 min of shearing at 140 and 160 °C, respectively, the viscosity of Fluid-1 remains in the range of 50–85 mPa·s, and the viscosity of Fluid-2 remains in the range of 60–95 mPa·s. And the wastewater produced by an oilfield in Shaanxi, Xinjiang, and Jiangsu are also prepared into fracturing fluids with a concentration of 0.3% ZID16PM, the viscosity of these fracturing fluids can remain 32, 42, and 45 mPa·s, respectively, after 120 min of shearing at 160 °C. All results demonstrate that the polymer ZID16PM displays prominent performance in fracturing fluids.