A woman died and 22 others were injured during the shooting, which police said stemmed from the two men arguing.
The charged men - identified as Dominic Miller and Lyndell Mays - were both shot and wounded during the incident.
Two teenagers were charged with gun and resisting arrest violations last week.
Prosecutor Jean Peters Baker of Jackson County said at a press conference on Tuesday that the two men had been charged with second-degree murder, two counts of armed criminal action and unlawful use of a weapon.
Mr Mays was the one who got into an argument at the event and drew a handgun, Ms Peters Baker alleged.
Other people then drew guns during the incident, officials said. That included Mr Miller, who prosecutors believe is the one who shot and killed Lisa Lopez Galvan, 43, during the incident.
Both men are being held on a $1m (£792,000) bond. The two were initially taken to a hospital to be treated for their injuries after the shooting. They remain in hospital, where they are recovering.
Ms Lopez Galvan's family said in a statement that they were thankful for the arrest of the two suspects.
"Though it does not bring back our beloved Lisa, it is comforting to know that the Jackson County Prosecutor's Office and the KCPD made it a top priority to seek justice for Lisa, the other shooting victims, those who had to witness this tragedy unfold and the Kansas City community," the statement said.
Their charges are in addition to the two teenagers who were charged last week.
"These are adults," Ms Peters Baker said, clarifying confusion about the new charges. "There are two juveniles that has been reported already pretty broadly by the news media. Those are being handled by a different office at this point in time."
It is unclear what led to the altercation, and the investigation into the shooting remains ongoing. Ms Peters Baker said that further charges may follow.
"We seek to hold every shooter accountable for their actions on that day - every single one," she said. "So while we're not there yet on every single individual, we're going to get there."
The 22 people wounded in the incident ranged in age from eight to 47, according to Kansas City police.
The shooting was one of several to take place at sports celebrations across the US in recent memory.
In June last year, a shooting at a celebration for the Denver Nuggets NBA team left 10 people wounded, including one of two people charged in relation to the incident
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