01 - Heat vegetable oil in a large pot over medium heat. Add diced onion and red bell pepper; cook for 4-5 minutes until softened.
02 - Stir in minced garlic and chopped jalapeño; cook for 1 minute until fragrant.
03 - Add ground beef, breaking it up with a spoon. Cook until browned and cooked through, approximately 6-8 minutes. Drain excess fat if necessary.
04 - Incorporate chili powder, ground cumin, smoked paprika, cayenne, dried oregano, salt, and black pepper. Cook for 1 minute to release aromas.
05 - Stir in tomato paste and cook for 1 minute, ensuring even distribution.
06 - Pour in diced tomatoes with juices, beef broth, and drained kidney beans. Stir until fully combined.
07 - Bring mixture to a simmer. Reduce heat to low, cover, and cook for 40 minutes, stirring occasionally.
08 - Taste and modify seasoning if necessary. Optionally, simmer uncovered for an additional 10 minutes to thicken.
09 - Ladle into bowls and garnish with sour cream, shredded cheddar, cilantro, or green onions as desired.