In a large Dutch oven, heat the olive oil over medium heat.
Add the Italian sausage and cook for 8–10 minutes, breaking it into pieces, until browned and cooked through. Use a slotted spoon to remove it and set aside on a paper towel-lined plate.
In the same pot, add the chopped onion and bell pepper. Cook for 10–12 minutes until softened.
Stir in garlic, cumin, chili powder, salt, black pepper, and cinnamon. Cook for 30 seconds to bloom the spices.
Add the tomatoes, kidney beans, black beans, pumpkin puree, chicken broth, and browned sausage. Stir to combine.
Bring to a boil over medium-high heat. Reduce to medium-low, cover, and let simmer for 20 minutes, stirring occasionally.
Taste and adjust salt and pepper as needed.
Serve hot with garnishes like sour cream, cheddar cheese, avocado, and pumpkin seeds.