01 - Heat vegetable oil in a large pot or Dutch oven over medium heat. Add ground beef and cook, breaking apart with a spoon, until browned and no longer pink, approximately 6-8 minutes. Drain excess fat if necessary.
02 - Add diced onion, red and green bell peppers, and jalapeño to the pot. Sauté until vegetables are softened, about 5 minutes.
03 - Stir in minced garlic and cook for 1 minute until fragrant.
04 - Add chili powder, cumin, smoked paprika, cayenne, oregano, salt, and black pepper. Stir thoroughly to coat meat and vegetables evenly with spices.
05 - Mix in tomato paste and cook for 2 minutes, stirring frequently to develop flavor.
06 - Pour in crushed tomatoes, kidney beans, and beef broth. Stir until completely combined.
07 - Bring chili to a simmer. Reduce heat to low, cover, and simmer for 45 minutes, stirring occasionally.
08 - Taste and adjust seasonings as needed. For thicker consistency, simmer uncovered for an additional 10-15 minutes.
09 - Serve hot with desired garnishes such as chopped cilantro, sour cream, or shredded cheese.