01 - Heat olive oil in a large pot or Dutch oven over medium heat. Add the onion and cook for 3–4 minutes until softened.
02 - Add garlic and cook for 1 minute until fragrant.
03 - Add ground beef and brown, breaking it up with a spoon, for 6–8 minutes until no longer pink.
04 - Stir in bell peppers and jalapeño. Cook for 3–4 minutes until slightly softened.
05 - Mix in tomato paste, diced tomatoes, and all spices (cumin, chili powder, smoked paprika, coriander, cayenne, oregano, salt, and pepper). Stir well to combine.
06 - Pour in beef broth and bring the mixture to a simmer. Reduce heat to low, cover, and simmer for 45 minutes, stirring occasionally.
07 - Add kidney beans and black beans. Simmer uncovered for an additional 15 minutes to thicken.
08 - Taste and adjust seasoning if necessary. Serve hot with sour cream, shredded cheddar cheese, fresh cilantro, and sliced jalapeños if desired.