Willy Bolly, Leo Bonatini and Ivan Cavaleiro put the hosts 3-0 up after 62 minutes and although Will Buckley's strike gave bottom side Bolton faint hope, further goals from Cavaleiro and Diogo Jota pushed rampant Wolves on to 44 points.
Cardiff City, who face Nottingham Forest on Sunday, remain second after third-placed Sheffield United were held to a 1-1 draw at home to Birmingham City.
Jeremie Boga fired Birmingham into a first-half lead but Leon Clarke equalised in the second half with his league-leading 13th goal of the season to draw the hosts level with Cardiff on 37 points.
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Aston Villa remain fourth in England's second-tier league, nine points adrift of Wolves, after an Albert Adomah brace handed them a 2-0 win over Ipswich Town at Villa Park.
Bristol City stay fifth, 10 points off the pace, after recovering from 2-0 down to win 3-2 at Hull City.
Fraizer Campbell and Jarrod Bowen had put the hosts ahead but the visitors snatched victory with three goals in the final quarter of the game from Aden Flint, Bobby Reid and Josh Brownhill, who netted the 89th minute winner.
Derby County replaced Middlesbrough in sixth place after beating them 3-0 at the Riverside Stadium courtesy of a Matej Vydra hat-trick.
(Reporting by Matt Westby; Editing by Ian Chadband)
