Lord Chaos, as the name suggests, has the ability of chaos magic, and has practically introduced it to Equestria, to where he created the chaos realm that chaotic beings like Discord live in, as his broken horn is symbolic to the surreal nature of his power. He has the near-unlimited powers of Discord, only his immortality makes him immune to anything including sickness or being robbed of magic. Though he is only half-loopy and half-serious, being a perfect and menacing blend between the two, being a lunatic, but a frightening one at that, allowing him the power to intimidate his foes as something out of American McGee. However, as with all Gods, he is susceptible to God-based illnesses, including morality illness, which is unlikely to occur to him as he is so loopy, he doesn't even know how he does his work, and doesn't even know if he's going against it or not thanks to his chaotic laws allowing him to defy the laws of physics like a cartoon character, but on a much more gruesome and dangerous level.
His powers of chaos allow him to read the minds of his enemies and use their most darkest secrets and fears against them, as he has the power to manifest himself symbolically to their most chaotic fears and demons. Like Discord, he can also make people act different, whether it be through reversing personalities, turning them into cowards, making them graphically evil, making him a fine example of chaos in it's purest form. He can shapeshift into many chaotic entities that are nearly unstoppable. These entities can induce fear and torment into whoever sees them, and it makes them nearly susceptible to his power.
Any of his creations are representations of him in boundless ways. His tainted followers in the Storm Clan are meant for his purposes only, and after years of being this way, it has become permanent, but they still have a brighter side in the form of the last remaining member of the Clan that survived Chaos' afflictions would be the only one who followed the former ways to the point of being exsulted out and only having defected Storm Creatures to follow him, and though his clan cannot be cured of the darkness afflicted upon them, it doesn't stop The Order King from believing that they can still somehow be saved, even though he could only be acting on broken hearted deludtions at this point, and thus neither he or anyone else for that matter know how to pull it off.
He has created minor relics that have been locked away from mortals for centuries including Pandora's Box, derived from the mythical relic of the same name, located not too far in the seas around Draconequua, as the land used to be the homeland of him and Lord Order. This Box has been another one of his backup plans designed to release him from his prison should he be banished, as the untold chaos inside would be enough to free him. However, the Draconequui have made it a solemn duty to protect this box and keep it from being released as the ones responsible for guarding the prison of Lord Chaos. Though Elpis' Box is the opposite of this meant to create so much order it'll release his brother, as the two coexist together and, when both opened or closed at the same time, can restore the balance between both and heal, even before the two can be released. This Box is guarded by the Proto-Draconequui, which are the opposites of the Draconequui meant for order.