Newcastle still waiting for confirmation of Sandro Tonali ban
The Italian football federation announced on Thursday that the 23-year-old international midfielder had been suspended until next season following an investigation into illegal betting, although the sanction is yet to be ratified by governing bodies UEFA and FIFA.
Asked for his reaction on Friday, Howe said: "It's a difficult one because we haven't had official confirmation as a football club yet.
"We've heard the news, the statement, but we haven't had anything from the Italian authorities at the moment, so we're in limbo, really, waiting for that official confirmation to come through."
Asked further if there was a chance he could yet play at Wolves, Howe added: "Yes, I think there's a high chance again that he could be available for us. I still think there are a few things that have to happen before the ban is imposed, so let's see."
Tonali's agent has said his client, who joined Newcastle from AC Milan in July, has a gambling addiction.
He came on as a substitute in Newcastle's 1-0 defeat by Borussia Dortmund in the Champions League on Wednesday.