01 -
Heat vegetable oil in a large pot over medium heat. Add chopped onion and minced garlic; cook until the onion is translucent, about 5 minutes.
02 -
Increase heat to medium-high and add ground beef. Cook until browned and no longer pink, breaking up with a wooden spoon. Drain excess fat.
03 -
Add chopped green bell pepper, chili powder, cumin, paprika, oregano, and cayenne pepper. Stir to thoroughly coat meat and vegetables with spices.
04 -
Pour in diced tomatoes with juices, kidney beans, black beans, tomato paste, and beef broth. Stir to combine all elements.
05 -
Bring mixture to a boil, then reduce heat to low. Cover and let simmer for 30 to 40 minutes, stirring occasionally to prevent sticking and allow flavors to meld.
06 -
Season with salt and black pepper to taste. Adjust cayenne pepper for desired spiciness and depth.
07 -
Serve hot, optionally garnished with shredded cheese, sour cream, chopped green onions, or cilantro.