Heat 1 tablespoon of olive oil in your large pot over medium heat. Add the diced yellow onions, green pepper, and jalapeño peppers. Cook, stirring occasionally, until the vegetables soften and the onions become translucent—about 5-7 minutes. Add the chopped garlic and sauté for another 1-2 minutes until fragrant.
Increase the heat to medium-high and add the 2 pounds of ground beef mince to the pot. Use your spoon to break the meat apart as it cooks. Brown the beef thoroughly until no longer pink, about 8 minutes. Make sure to stir occasionally so it cooks evenly and doesn't stick.
Once the beef is browned, sprinkle in the ground cumin, chili powder, smoked paprika, salt, and cayenne pepper. Stir well to coat the meat and vegetables evenly with the spices. Let the mixture cook for 1-2 minutes to toast the spices and bring out their full flavor.
Pour in the crushed tomatoes, tomato sauce, and beef or chicken broth. Stir everything together, scraping the bottom of the pot to release any browned bits—this adds extra depth to your chili. Bring the mixture to a simmer.
Reduce the heat to low and add the drained kidney and black beans. Cover the pot and let the chili simmer gently for 30 to 45 minutes, stirring occasionally. This slow cooking lets the flavors meld beautifully and the chili thicken to a luscious consistency.
Ladle your hot Beef Chili into bowls. Top each serving with a dollop of sour cream, a handful of grated cheddar cheese, sliced jalapeños, chopped green onions, and fresh cilantro. Enjoy with warm cornbread or tortilla chips for a complete meal.