According to an ESPNcricinfo report, Gautam, captain of Bellary Tuskers, and Kazi who plays for the same team, allegedly accepted Rs 20 lakh for "slow batting" in the final against Hubli Tigers, which the Tuskers lost by eight runs.
Chasing 153, Tuskers ended up with 144 with opener Gautam scoring a 37-ball 29 while Kazi struck 13 off six deliveries.
The two are also believed to have been involved in fixing another match, against the Bengaluru Blasters.
"CCB have made two important arrests in the KPL spot-fixing scandal," Sandeep Patil, the Joint Commissioner of Police, told ESPNcricinfo.
"Bellary team captain CM Gautum and Abrar Kazi arrested. They did spot fixing in KPL 2019 finals between Hubli and Bellary. They were paid Rs 20 lakh for slow batting. They also fixed another match against the Bangalore team. Further investigation on and more arrests would be done," he added.
The arrest of the two comes a day another player Nishant Shekhawat was arrested for allegedly acting as an intermediary between bookies and players in the KPL.
A total of seven people, including four players, have been arrested till now in the KPL spot fixing case.
The Karnataka State Cricket Association (KSCA) runs the KPL T20 tournament every year on the lines of the popular Indian Premier League (IPL) tournament by the cash-rich Board of Control for Cricket in India (BCCI).
( With inputs from IANS )