Prep your ingredients by dicing onion and bell pepper, mincing garlic, and measuring spices.
Heat a tablespoon of oil in a large pot over medium heat.
Add ground beef (or turkey) and cook, breaking up with a spoon, until browned, about 5-7 minutes.
Drain excess fat and set meat aside.
In the same pot, sauté onion, bell pepper, and garlic until softened and fragrant, about 3-5 minutes.
Return meat to the pot and stir in chili powder, cumin, paprika, cayenne pepper, salt, and black pepper; cook 1-2 minutes to toast spices.
Add diced tomatoes with juices, tomato sauce, and beef broth, stirring to combine.
Bring to a simmer over medium-high heat.
Reduce heat to low, cover, and simmer for 45 minutes to meld flavors.
Stir in kidney and pinto beans, continue simmering for another 15 minutes.
Taste and adjust seasonings as needed.
Serve hot with desired toppings such as cheese, sour cream, green onions, avocado, and tortilla chips.