From BiblePortal Wikipedia

Vine's Expository Dictionary of NT Words [1]

1: Κολάζω (Strong'S #2849 — Verb — kolazo — kol-ad'-zo )

primarily denotes "to curtail, prune, dock" (from kolos, "docked"); then, "to check, restrain, punish;" it is used in the Middle Voice in  Acts 4:21; Passive Voice in  2—Peter 2:9 , AV, "to be punished" (RV, "under punishment," lit., "being punished"), a futurative present tense.

2: Τιμωρέω (Strong'S #5097 — Verb — timoreo — tim-o-reh'-o )

primarily, "to help," then, "to avenge" (from time, "value, honor," and ouros, "a guardian"), i.e., "to help" by redressing injuries, is used in the Active Voice in  Acts 26:11 , RV, "punishing" (Av, "I punished"); Passive Voice in  Acts 22:5 , lit., "(that) they may be punished." Cp. No. 5, below.

 2—Thessalonians 1:9Justice.Suffer

Webster's Dictionary [2]

(1): ( v. t.) To impose a penalty upon; to afflict with pain, loss, or suffering for a crime or fault, either with or without a view to the offender's amendment; to cause to suffer in retribution; to chasten; as, to punish traitors with death; a father punishes his child for willful disobedience.

(2): ( v. t.) To injure, as by beating; to pommel.

(3): ( v. t.) To deal with roughly or harshly; - chiefly used with regard to a contest; as, our troops punished the enemy.

(4): ( v. t.) To inflict a penalty for (an offense) upon the offender; to repay, as a fault, crime, etc., with pain or loss; as, to punish murder or treason with death.

King James Dictionary [3]

Pun'Ish, L punio, from the root of poena,pain. The primary sense is to press or strain.

1. To pain to afflict with pain, loss or calamity for a crime or fault primarily, to afflict with bodily pain, as to punish a thief with pillory or stripes but the word is applied also to affliction by loss of property, by transportation, banishment, seclusion from society, &c. The laws require murderers to be punished with death. Other offenders are to be punished with fines, imprisonment, hard labor,&c. God punishes men for their sins with calamities personal and national. 2. To chastise as, a father punishes his child for disobedience. 3. To regard with pain or suffering inflicted on the offender applied to the crime as, to punish murder or theft.