Heat the olive oil in a large pot over medium heat until shimmering.
Add the diced onion and bell pepper to the pot and sauté for 5-7 minutes until they are soft and translucent.
Add the ground beef, breaking it into small crumbles with a wooden spoon, and cook until it is thoroughly browned.
Stir in the chili powder, smoked paprika, cumin, garlic powder, sea salt, and black pepper, toasting the spices for about 1 minute until fragrant.
Pour in the tomato puree, rinsed kidney beans, and water, stirring well to combine all ingredients.
Reduce the heat to low and simmer the chili for 20 minutes, allowing the liquid to reduce into a thick and velvety texture.