Lenalidomide in Treating Older Patients With Acute Myeloid Leukemia

Inclusion Criteria: * Morphologically confirmed diagnosis of acute myeloid leukemia (AML) by bone marrow aspiration and biopsy within the past 14 days * Diagnostic biopsy within the past 28 days with marrow blast percentage ≥ 70% allowed provided no potentially antileukemic therapy was received after biopsy * Cytogenetic evidence of del (5q) abnormality by conventional karyotyping or fluorescence in situ hybridization (FISH) * Previously untreated disease * Must have declined standard AML cytotoxic chemotherapy regimens * WBC ≤ 30,000/mm³ * History of prior myelodysplastic syndromes (MDS) allowed * No acute promyelocytic leukemia (FAB M3) * No blastic transformation of chronic myelogenous leukemia * Zubrod performance status 0-2 * Bilirubin ≤ 2.5 times upper limit of normal (ULN) (unless elevation is due primarily to elevated unconjugated hyperbilirubinemia secondary to Gilbert's syndrome or hemolysis, but not to liver dysfunction) * AST and ALT ≤ 3.5 times ULN * Creatinine ≤ 1.5 times ULN * HIV negative * Not pregnant or nursing * Negative pregnancy test * Fertile patients must use 2 forms of effective contraception at least 4 weeks prior to, during, and for 4 weeks after completion of study treatment * No known allergy to thalidomide * Concurrent enrollment on SWOG-S9910 allowed (for SWOG patients) * No prior systemic chemotherapy for acute leukemia except hydroxyurea * Single-dose intrathecal chemotherapy allowed before or concurrently with induction chemotherapy…