On Monday, Jason La Canfora of CBS Sports reported the defensive back "may not be long for K.C."
The update came after Mike Florio of Pro Football Talk noted Sunday there was chatter around the league about the possibility the Chiefs would move Peters following the signing of fellow corner David Amerson and the upcoming acquisition of Kendall Fuller in the Alex Smith trade.
He's coming off another solid year for Kansas City, which selected him with the 18th overall pick in 2015.
The 25-year-old University of Washington product tallied 46 combined tackles, nine passes defended, five interceptions and three forced fumbles in 14 appearances. Pro Football Focus graded him as the league's No. 17 cornerback.
Peters received a one-game suspension from the team for an outburst against the New York Jets, though. And the front office will soon have to decide whether to pick up the fifth-year option on his rookie deal for 2019.
It's unclear what the Chiefs would be seeking in a trade, but his play has lived up to the first-round investment the organization made in him three years ago.