Gather and prepare all ingredients and tools, including a Dutch oven.
Heat olive oil in the Dutch oven over medium heat.
Sauté onion and bell pepper for about 5 minutes until tender.
Add minced garlic and cook for 30 seconds.
Add ground beef, breaking it apart, and cook until browned (6–8 minutes).
Stir in beans, crushed tomatoes, and tomato paste.
Pour in beef broth and stir.
Season with chili powder, cumin, smoked paprika, cayenne, salt, black pepper, and add bay leaf.
Reduce heat and let simmer for 30–40 minutes, stirring occasionally.
Remove bay leaf before serving. Adjust seasoning to taste.
Notes
You can substitute ground beef with turkey, chicken, or plant-based meat, and use vegetable broth for a vegetarian version. Chili tastes even better the next day!