In a large saucepan, bring 3 cups of water to a boil. Be sure to add in 2-3 tbsp of salt to the water.
Stir in 1 cup of yellow cornmeal to the boiling water.
Add cup of milk and stir. Turn heat to low and cover for 15-20 minutes until the grits have thickened.
For the shrimp:
Add olive oil to a large skillet and heat over medium-high. Add red bell pepper and onion. Saute for 3 to 5 minutes until translucent.
Add in the cooked bacon (if using) and garlic, allow to cook for 1 to 2 minutes.
In a medium-sized bowl, add shrimp, olive oil, cajun seasoning, smoked paprika, salt, and pepper. Stir to combine
Add shrimp mixture to the skillet and cook until pink and cooked through.
Notes
If you are not using cooked bacon and need to cook the bacon, be sure to do that step first. Then remove the bacon, allow to cool and chop. Use the oil from the bacon to saute the onion and pepper. Then proceed with the directions.