Wolves defender Sebastien Bassong was shown a straight red card after bundling over Walcott in the penalty area, which led to the Gunners' opening goal. The decision resulted in the Molineux faithful booing the Arsenal player but Walcott has pleaded his innocence.
"I was running at so much pace and the guy clipped me," insists Walcott.
"I'm an honest guy, I try to stay on my feet. I'm not going to go to ground when I'm through on goal.
"It's a shame to see a red card but I can't change that decision."
Arsenal are now five points clear of fourth-placed rivals Tottenham Hotspur.