Heat 2 tbsp of olive oil in a large pot over medium-high heat. As the oil warms, you will begin to smell its rich aroma.
Add 1 medium red onion (diced) and 1 red bell pepper (diced) to the pot. Sauté them for about 5 minutes, or until the onion becomes translucent and the bell pepper softens.
Stir in 3 cloves of minced garlic and cook for an additional 30 seconds, allowing the garlic to release its fragrant aroma. Now, mix in 2 tbsp of tomato paste, 1 tsp of kosher salt, 1 tsp of smoked paprika, 1 tsp of ground cumin, ½ tsp of chili powder, and ½ tsp of black pepper. Sauté the mixture for about 1 minute, allowing the spices to bloom and deepen in flavor.
Add 1 lb of lean Ground Beef to the pot, using a spatula to break it up. Cook until the chicken is browned, which should take about 4-5 minutes. Ensure the chicken is cooked through.
Pour in 3 cups of chicken broth, along with 1 (14 oz) can of drained kidney beans, 1 (14 oz) can of drained black beans, and 1 (14 oz) can of fire-roasted diced tomatoes. Bring the mixture to a boil, then reduce the heat to low to let it simmer.
Cover the pot and let the chili simmer for 15 minutes, allowing the flavors to meld together. Afterward, remove the lid, stir the chili, and let it simmer uncovered for an additional 15 minutes until slightly reduced and thickened.