Brown the meat: Heat 1 tbsp of olive oil in a large pot or Dutch oven over medium heat. Add the ground beef (or turkey) and cook until browned, breaking it apart with a wooden spoon as it cooks. Drain any excess fat if necessary.
Sauté the vegetables: Add the chopped onion and minced garlic to the pot. Cook for 3-5 minutes until softened and fragrant.
Add the beans and tomatoes: Stir in the kidney beans, black beans, crushed tomatoes, and tomato paste. Mix well to combine all the ingredients.
Season the chili: Add chili powder, cumin, smoked paprika, oregano, cayenne pepper (if using), and salt and pepper to taste. Stir everything together and let the spices blend into the mixture.
Simmer: Pour in the beef broth and stir to combine. Bring the mixture to a boil, then reduce the heat to low and let the chili simmer for 45 minutes to 1 hour, stirring occasionally. The flavors will deepen as the chili cooks.
Taste and adjust: Before serving, taste the chili and adjust seasoning with more salt, pepper, or chili powder if needed. If you want a thicker chili, let it simmer uncovered for a little longer.
Serve: Ladle the chili into bowls and serve with your favorite toppings such as sour cream, shredded cheese, chopped green onions, or cilantro.