Sauté Bacon, Onions & Garlic: Heat the olive oil in a large pot or Dutch oven over medium heat. Add the diced bacon and onions. Cook for about 5 minutes, until softened and fragrant. Stir in the garlic and tomato paste, and cook for 1 minute more.
Brown the Ground Beef: Add the ground beef to the pot and cook, breaking it up with a spoon, until browned and cooked through—about 5 to 7 minutes. Lightly season with salt and pepper.
Add Bell Peppers: Stir in the diced red and yellow (or green) bell peppers. Cook for another 5 minutes, stirring occasionally.
Combine the Spices: Sprinkle in the chili powder, ground cumin, dried oregano, sweet paprika, black pepper, and red pepper flakes (if using). Stir well and let cook for 1 to 2 minutes to bloom the spices.
Add Tomatoes & Broth: Pour in the canned tomatoes and beef broth. Stir everything together and bring to a gentle simmer.
Let It Simmer: Reduce the heat to low, cover, and simmer for 20 to 30 minutes, stirring occasionally.
Add the Beans: Stir in the drained kidney beans and let the chili cook uncovered for another 10 to 15 minutes, allowing the flavors to meld and the chili to thicken.
Final Seasoning & Serve: Taste and adjust seasoning as needed with more salt or chili powder. Serve hot, topped with sour cream or crème fraîche, grated cheese, scallions, or parsley. Perfect with crusty bread, steamed rice, or tortilla chips. Enjoy!
For a relaxing atmosphere in the kitchen I recommend my personal Elle Republic: Chilled Out Kitchen Tunes Playlist on Spotify.