The Collaborative International Dictionary of English v.0.48:

Blanket \Blan"ket\, v. t. [imp. & p. p. Blanketed; p. pr. &
   vb. n. Blanketing.]
   1. To cover with a blanket.
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            I'll . . . blanket my loins.          --Shak.
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   2. To toss in a blanket by way of punishment.
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            We'll have our men blanket 'em i' the hall. --B.
                                                  Jonson.
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   3. To take the wind out of the sails of (another vessel) by
      sailing to windward of her.
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   Blanket cattle. See Belted cattle, under Belted.
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The Collaborative International Dictionary of English v.0.48:

Blanket \Blan"ket\, n. [F. blanchet, OF. also blanket, a woolen
   waistcoat or shirt, the blanket of a printing press; prop.
   white woolen stuff, dim. of blanc white; blanquette a kind of
   white pear, fr. blanc white. See Blank, a.]
   1. A heavy, loosely woven fabric, usually of wool, and having
      a nap, used in bed clothing; also, a similar fabric used
      as a robe; or any fabric used as a cover for a horse.
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   2. (Print.) A piece of rubber, felt, or woolen cloth, used in
      the tympan to make it soft and elastic.
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   3. A streak or layer of blubber in whales.
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   Note: The use of blankets formerly as curtains in theaters
         explains the following figure of Shakespeare. --Nares.
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               Nor heaven peep through the blanket of the dark
               To cry, "Hold, hold!"              --Shak.
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   Blanket sheet, a newspaper of folio size.

   A wet blanket, anything which damps, chills, dispirits, or
      discour?ges.
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WordNet (r) 3.0 (2006):

blanket
    adj 1: broad in scope or content; "across-the-board pay
           increases"; "an all-embracing definition"; "blanket
           sanctions against human-rights violators"; "an invention
           with broad applications"; "a panoptic study of Soviet
           nationality"- T.G.Winner; "granted him wide powers" [syn:
           across-the-board, all-embracing, all-encompassing,
           all-inclusive, blanket(a), broad, encompassing,
           extensive, panoptic, wide]
    n 1: bedding that keeps a person warm in bed; "he pulled the
         covers over his head and went to sleep" [syn: blanket,
         cover]
    2: anything that covers; "there was a blanket of snow" [syn:
       blanket, mantle]
    3: a layer of lead surrounding the highly reactive core of a
       nuclear reactor
    v 1: cover as if with a blanket; "snow blanketed the fields"
    2: form a blanket-like cover (over)