Heat the Olive Oil: In a large pot or Dutch oven, heat the olive oil over medium heat.

Brown the Beef: Add the ground beef to the pot and cook until it is fully browned. Make sure to break up the meat as it cooks. Once browned, drain any excess fat.

Sauté the Vegetables: Add the chopped onion, minced garlic, and bell pepper to the pot. Sauté for about 5 minutes, or until the vegetables are tender and fragrant.

Add the Beans and Tomatoes: Stir in the kidney beans, black beans, diced tomatoes, and tomato paste until everything is well combined.

Pour in the Broth: Add the beef broth to the pot, stirring to combine all the ingredients thoroughly.

Season the Chili: Sprinkle in the chili powder, ground cumin, paprika, cayenne pepper (if using), salt, and black pepper. Stir well to ensure the spices are evenly distributed.

Simmer the Chili: Bring the mixture to a boil, then reduce the heat to low. Cover the pot and let it simmer for at least 30 minutes, stirring occasionally. The longer it simmers, the more flavorful it will be.

Serve and Enjoy: Ladle the chili into bowls and top with your favorite optional toppings like shredded cheese, sour cream, chopped green onions, and jalapenos.