The bald expression of transactional expectations was among the most striking examples of possible misconduct uncovered by the panel, known as a Moreland Act Commission, that Gov. Andrew M. Cuomo appointed five months ago. The panel said it had found possible sham nonprofit groups funded with public money, lawmakers who seemed to be seeking reimbursement from the state for travel expenses that had already been paid by their campaigns, and businesses that effectively sought to buy legislation with targeted campaign donations.

The panel did not name names, leaving Albany to play a guessing game about which elected officials, businessmen and political donors might soon be embarrassed — and which of them could face prosecution. The report said investigators had already uncovered “deplorable conduct, some of it perfectly legal yet profoundly wrong; some of it potentially illegal.”

“We’ve found some shocking things, but we have to do more complete investigations,” Kathleen M. Rice, the Nassau County district attorney and a co-chairwoman of the panel, said in an interview, adding: “What is far more corrosive and pervasive is all the stuff they do that’s legal and shouldn’t be. It’s almost like: ‘Wait, what? You’re allowed to do that?’ ”

It also remains unclear how long the investigations will continue. The commission’s primary charge is to recommend broad reforms to the state’s political system, more so than to build cases against individual politicians. Mr. Cuomo wants to negotiate an agreement with legislative leaders on new ethics measures, and it is possible that future investigatory work could be curbed if a deal is reached.

Speaking to reporters in Manhattan on Tuesday, the governor, a Democrat, said that the report offered evidence that the Legislature needed to pass new ethics laws to restore the public’s trust in government.