On May 2, 2024, after playing a single game (a 58–28 win over the Rapid City Marshals), the team announced they would be discontinuing operations immediately.

)[5] The owner was Trevor Burdett and the head coach was Tyus Jackson, both of whom had filled similar roles for the Topeka Tropics of Champions Indoor Football the previous year.

[6][7] On May 2, 2024, following a 58–28 road win over the Rapid City Marshals, the Rampage issued a statement stating the team was folding immediately, accusing commissioner Lee Hutton of reneging on promises to compensate the Rampage and the Champions Indoor Football teams that had agreed to join the AFL for increased expenses.

Fellow CIF transplants, the Marshals and Billings Outlaws, corroborated the Rampage's claims, as did the Washington Wolfpack.

"[11] The Rampage apologized to the Council Bluffs community and fan base and announced that its assets would be liquidated in an effort to cover its expenses up to that point.