It remains "very early" in negotiations, however, and the Knicks are looking for a "sweetener" in the deal, such as a draft pick, sources told the New York Daily News' Stefan Bondy.
Kanter has come off the bench in his past six outings as the Knicks continue to prioritize their future. He's conceded playing time to younger players like Luke Kornet but is still averaging a double-double for the second straight year with 14.4 points and 11 rebounds per game.
After meeting with Knicks general manager on New Year's Eve, Kanter insisted he did not request a trade. Still, the team is reportedly receiving interest in the 26-year-old, whose $18.6-million contract is set to expire this summer.
Randolph, a two-time All-Star with the Memphis Grizzlies earlier this decade, has not appeared for the Kings this season, the last of a two-year, $24-million deal he signed in 2017.
The Kings are also hoping to trade away more expiring contracts in a potential trade, and a deal with the Knicks is not imminent, Wojnarowski reports.
Sacramento guard Iman Shumpert ($11 million), center Kosta Koufos ($8.7 million), and guard Ben McLemore ($4.5 million) are also set to hit unrestricted free agency. Big man Willie Cauley-Stein, meanwhile, will be a restricted free agent.
The trade deadline is Feb. 7.