01 - Heat olive oil in a large Dutch oven or heavy pot over medium-high heat. Add beef cubes in batches, browning all sides. Remove and set aside.
02 - In the same pot, cook diced onion for 3 minutes until softened. Add garlic, red and green bell peppers, and jalapeño; sauté for an additional 5 minutes.
03 - Stir in chili powder, cumin, smoked paprika, cayenne pepper, oregano, black pepper, and salt. Cook for 1 minute until fragrant.
04 - Return browned beef to the pot. Add crushed tomatoes and beef broth, stirring well. Bring to a boil.
05 - Reduce heat to low, cover, and simmer for 1 hour, stirring occasionally.
06 - Add kidney and black beans, simmer uncovered for 15 to 20 minutes until thickened and flavors meld.
07 - Adjust seasoning to taste. Serve hot with optional toppings such as cilantro, sour cream, cheddar, or green onions.