01 - Heat olive oil in a large pot over medium heat. Add chopped onion and sauté until translucent, about 3 minutes.
02 - Add garlic, red bell pepper, and green bell pepper. Cook for 3-4 minutes until softened.
03 - Add ground beef to the pot. Cook, breaking up with a spoon, until browned and no longer pink, about 5-7 minutes.
04 - Stir in chili powder, cumin, smoked paprika, oregano, cayenne pepper, salt, and black pepper. Cook for 1 minute until fragrant.
05 - Add tomato paste and cook, stirring constantly, for 1 minute to develop flavor.
06 - Pour in diced tomatoes and beef broth. Stir well to combine all ingredients.
07 - Bring mixture to a boil, then reduce heat to low. Simmer uncovered for 25 minutes, stirring occasionally.
08 - Stir in kidney beans and continue simmering for 10 minutes to allow flavors to meld.
09 - Taste and adjust seasoning as needed. Serve hot garnished with chopped cilantro, sour cream, or shredded cheese if desired.