01 - Heat olive oil in a large pot or Dutch oven over medium-high heat. Add onion, red and green bell peppers, sauté for 5 minutes until softened.
02 - Add garlic and jalapeño, cook for 1 minute until fragrant.
03 - Add ground beef, breaking up with spoon. Cook until browned and no longer pink, about 7 to 8 minutes. Drain excess fat if needed.
04 - Stir in chili powder, cumin, paprika, cayenne, oregano, salt, and black pepper. Cook for 1 minute to toast spices.
05 - Add tomato paste, stir well. Pour in crushed tomatoes and beef broth, mix thoroughly.
06 - Stir in kidney beans. Bring to gentle boil, reduce heat to low. Cover and simmer for 45 to 60 minutes, stirring occasionally, until flavors meld and chili thickens.
07 - Taste and adjust seasoning as needed. Serve hot, garnished with cilantro, green onions, cheddar cheese, and/or sour cream if desired.