Fully implantable wireless intra-cortical Brain Machine Interfaces (iBMI) is one of the most promising next frontiers in the nascent field of neurotechnology. However, scaling the number of channels in such systems by another 10X is difficult due to power and bandwidth requirements of the wireless transmitter. One promising solution for that is to include more processing, up to the decoder, in the implant so that transmission data rate is reduced drastically. Earlier work on neuromorphic decoders only showed classification of discrete states. We present results for continuous state decoding using a low power neuromorphic decoder chip termed Spike-input Extreme Learning Machine (SELMA). We compared SELMA against state of the art Steady State Kalman Filter (SSKF) across two different datasets involving a total of 4 non-human primates (NHPs). Results show at least a 10% or more increase in the fraction of variance accounted for by SELMA over SSKF across the datasets. Furthermore, estimated energy consumption comparison shows SELMA consuming ≈ 9 nJ/update against SSKF's ≈ 7.4 nJ/update for an iBMI with a 10 degree of freedom control. Thus, SELMA yields better performance against SSKF with a marginal increase in energy consumption paving the way for reducing transmission data rates in future scaled BMI systems.