Penalizes rhymes with:
analyzes, finalizes, marginalizes, nationalizes, personalizes, analyzes, brutalizes, capitalizes, crystallizes, demobilizes, departmentalizes, equalizes, fertilizes, finalizes, formalizes, idolizes, liberalizes, marginalizes, materializes, monopolizes, nationalizes, naturalizes, neutralizes, normalizes, paralyzes, personalizes, realizes, sterilizes, tantalizes, trivializes, utilizes
Penalizes sounds like:
painless, pamela's, panel's, panelize, panels, panels', pannill's, penalize, penaloza, penelas, penn-hills, penniless, penology, phenolic, phonology, pinellas, pinholes, pomology