Sky Bet have suspended betting on Cabaye's next club after a significant run of bets on the Newcastle midfielder joining the newly-promoted Ligue 1 side.
The speculation comes after Monaco, backed by the financial clout of Russian billionaire Dmitry Rybolovlev, have already secured the big-money captures of Radamel Falcao, Joao Moutinho, James Rodriguez and Ricardo Carvalho.
Cabaye is thought to be on Monaco's wanted list and the French international has hinted he could be interested in a move to Stade Louis II.
"Monaco have the means to build a strong team," Cabaye is quoted as saying in The Sun. "It might interest everyone.
"Also I would be interested in a move to Manchester United."
But the story of him passing a medical at Monaco is not true.
Source: Newcastle United Mad