Post mortems are being performed on the two wrestlers, one of whom went by the name La Parkita - or Little Death - and wore a skeleton costume in the ring. The other was known as Espectrito Jr.
Authorities say two women were seen leaving the mens hotel room in Mexico City before the bodies were discovered.
Prosecutor Miguel Angel Mancera said that gangs of female robbers in the area are experienced at using drugs to knock men out and rob them, but they may have used too strong a dose.
They said the wrestlers may have succumbed to the drugs more readily because of their small stature, although larger men have also died in similar crimes.
Previously, Mexican police have arrested prostitutes who poisoned "clients" to steal their money.
In 2008, 20 members of a gang were arrested for similar crimes.
