Yes, and at a small scale it already happens today. I was working for a largish tech firm a few years ago when they made an agreement with the local and state g

Yes, and at a small scale it already happens today. I was working for a largish tech firm a few years ago when they made an agreement with the local and state government to get the right to run their own private police force on their campus. This was not security, they had (limited) rights to detain, arrest, and use deadly force in some cases, very similar to American university police if you're familiar with that.