Wallets rhymes with:
defollets, amulets, anklets, articulates, ballots, bartlett's, billets, booklets, branchlets, bullets, charlotte's, chocolates, consulates, copilots, correlates, defollets, droplets, eyelets, finlets, hamlets, helots, hollatz, leaflets, merlots, metallatz, millets, nutlets, octuplets, omelets, palates, pallets, pamphlets, particulates, pellets, pilot's, pilots, pilots', platelets, quintuplets, starlets, tablets, toilets, triplets, violets, zealots, zelotes
Wallets sounds like:
waldeck, waldoch, waldock, wall-tex, walthose, walts, waltz, waltzes, wealths, weld's, welds, welltech, weltz, wields, wilde's, wildes, wilds, wildwoods, willets, willetts, willits, wilts, wiltse, wiltsey, wiltsie, wiltz, woltz