A NRL spokesman confirmed the matter had been referred to the integrity unit.
"Penrith Panthers has been made aware of a video allegedly involving a Panthers player," the Panthers said in a statement.
"The club is co-operating with the NRL integrity unit and will be making no further comment at this time."
If it is proven to be a NRL player, they will face being struck out of the game after NRL CEO Todd Greenberg's promise to get tough on violence against women.
It has yet to be proven that the person in the video is a NRL player. Last month, a video circulated on social media which was touted as involving two prominent players, however that was proven to be a hoax.
Over the past two days, Greenberg has been forced to mete out a series of punishments for poor off-field behaviour.
Just hours after Greenberg addressed the media to announce a laundry list of sanctions for players and clubs, the game was facing yet another potential scandal.
After 17 incidents of poor behaviour over the past five-and-a-half months, Greenberg and ARL commission chairman Peter Beattie are attempting to kickstart cultural change by drawing a line in the sand.