Sauté the Vegetables
In a large pot or Dutch oven, heat the olive oil over medium heat. Add the diced onion, bell pepper, and jalapeño (if using) and sauté until softened, about 5 minutes. Add the minced garlic and cook for another minute until fragrant.
Brown the Beef
Add the ground beef to the pot and cook until browned, breaking it up with a spoon as it cooks. Drain any excess fat if needed.
Add the Spices
Stir in the chili powder, ground cumin, smoked paprika, cayenne pepper (if using), salt, and pepper. Cook for 1-2 minutes, allowing the spices to become fragrant.
Add the Tomatoes, Beans, and Broth
Pour in the diced tomatoes, tomato sauce, drained beans, and beef broth. Stir everything together until well combined. Add a teaspoon of sugar if desired to balance the acidity.
Simmer the Chili
Bring the mixture to a simmer, then reduce the heat to low. Cover the pot and let it simmer for 30-45 minutes, stirring occasionally. The flavors will meld, and the chili will thicken as it cooks.
Adjust Seasoning
Taste the chili and adjust the seasonings as needed, adding more salt, pepper, or spices if desired.
Serve
Serve the chili hot, ladled into bowls, with your favorite toppings.