Make the polenta: In a medium pot, bring 3 cups of water to a boil. Add the polenta, 1 additional cup of water, and 1 teaspoon of chili powder, and reduce the heat to a simmer. Simmer uncovered for 15 minutes, stirring occasionally. Once the polenta is fully cooked and has absorbed the water, remove the pot from heat and cover it to keep it warm.
Preheat: Meanwhile, preheat the oven to 425°F.
Cook the onion: Heat a large nonstick sauté pan over medium-high heat. Add a splash of water and the onion. Cook for about 6 to 8 minutes, or until the onion has softened. Add an additional splash of water at any point if needed to prevent sticking.
Add remaining ingredients: Add the tofu, pinto beans, corn, poblano, serrano (or jalapeño), tomato paste, 2 teaspoons of chili powder, ground cumin, ground coriander, smoked paprika, a few cracks of black pepper, and the kosher salt (if using). Stir well to evenly distribute the seasoning. Cook, stirring occasionally, for about 6 to 8 minutes, or until the peppers have softened. Add the garlic and cook for 1 more minute.
Prepare the casserole: Transfer the mixture to the casserole dish. Spoon the polenta over the top, spreading it out evenly.
Bake: Bake the casserole for 25 to 30 minutes, or until the polenta topping is cooked through.
Serve: If desired, garnish with the cilantro and/or olives (for lower sodium, omit the olives) before serving.