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The SCOTUS disagrees.
In its 1997 decision in the case, the Supreme Court ruled that the provision of the Brady Act that compelled state and local law enforcement officials to perform the background checks was unconstitutional on 10th amendment grounds.
However, the overall Brady statute was upheld and state and local law enforcement officials remained free to conduct background checks if they so chose. The vast majority continued to do so. In 1998, background checks for firearm purchases became mostly a federally run activity when NICS came online, although many states continue to mandate state run background checks before a gun dealer may transfer a firearm to a buyer.