Heat the olive oil in a medium pot over medium-high heat.
Add the diced yellow onion and red bell pepper, sautéing for 4-5 minutes until the vegetables are softened and fragrant.
Add the ground beef to the pot, breaking it up with a wooden spoon, and cook until browned and no longer pink.
Stir in the chili powder, smoked paprika, ground cumin, garlic powder, sea salt, and black pepper, coating the meat and vegetables evenly.
Pour in the tomato puree and the rinsed kidney beans, stirring to combine all ingredients.
Reduce the heat to low, cover the pot, and let the chili simmer for 15-20 minutes to allow the smoky flavors to meld together.
Serve hot in a bowl, optionally garnished with fresh herbs if desired.