In a large deep skillet over high heat, warm olive oil. Add the chicken thighs and saute for 5 minutes; turn and saute 5 more minutes until very brown. Stir into same skillet the tomato sauce, peppers, olives and water. Bring to a simmer; reduce heat to low. Cover and cook 15 – 18 minutes, until fork can be inserted in chicken with ease.
While the chicken is cooking, slice the polenta into 3/4 inch thick rounds. Warm a large, non-stick skillet or griddle over medium heat. Place the polenta slices on the skillet or griddle; cook 7 minutes on each side.
To serve, place the polenta slices on serving dish. Top with chicken; spoon sauce on top.
