Heat a large skillet over medium heat and sauté the bacon until crisp, about 8 minutes. Using a slotted spoon, remove the bacon from the skillet and place on a plate lined with paper towel. Pour out bacon drippings, leaving just 2 tablespoons dripping in the skillet.
Add shallots and saute until just starting to turn brown, about 2 minutes. Add chicken broth, raise heat to medium-high, and bring to a boil.
Lower heat to medium and slowly whisk in polenta. Cook, stirring frequently, until the polenta is soft and thick, about 15 to 20 minutes.
While the polenta is cooking, heat olive oil in another large skillet set over medium heat. Add crimini mushrooms. Cook until mushrooms are tender and just starting to brown. Stir in fresh thyme. Remove from heat. Season with freshly ground black pepper and lightly with salt (remember, there will be salt in the polenta from the bacon and the chicken broth).
Just before serving, stir the reserved bacon and Parmesan cheese into the polenta. Divide the mixture across 6 plates (I typically serve this as a side) and top the polenta servings with even amounts of the mushroom mixture. Serve immediately.
Notes
Please note that I am not a medical or nutritional professional. I provide nutritional information for my recipes as a courtesy to my readers. It is calculated using the built-in WP Recipe Maker calculator. While I attempt to provide information that is as accurate as possible, you should calculate the nutritional information independently before relying on it.