Heat the olive oil in a medium pot over medium-high heat.
Add the diced yellow onion and red bell pepper to the pot and sauté for 3-4 minutes until softened.
Add the ground beef to the pot, breaking it apart with a wooden spoon, and cook until fully browned.
Stir in the chili powder, smoked paprika, ground cumin, garlic powder, sea salt, and black pepper, ensuring the meat and vegetables are evenly coated.
Pour in the crushed tomatoes, rinsed kidney beans, and water.
Bring the mixture to a gentle boil, then reduce the heat to low.
Cover and simmer for 15 minutes to allow the flavors to develop and the liquid to reduce slightly.
Serve hot in a bowl, optionally garnished with fresh herbs or a squeeze of lime.