And yes, it is reasonable to do so. For one, everyone's got to share the same streetlights. For two, if these lights really are harmful to sleep, then the cost of using lights that are engineered to not produce certain wavelengths is probably minuscule compared to the net public benefit, even if you only want to limit the criteria being considered to things that are easily assigned a cash value.
Mandating Flux on phones, on the other hand, is a very different proposition in every way but the most superficial of similarities. People can make their own decisions about their phone's color scheme, and those decisions don't really affect anyone else in any direct way.
EDIT: It's not just me: https://forum.justgetflux.com/topic/2591/exactly-why-do-you-...
As the article indicates, they are less effective at disrupting sleep than a LCD monitor or smartphone.
If we're banning an outdoor light for being less disruptive than your phone, should we also mandate Flux style warm color phones at night by law?