Heat the olive oil in a large pot or Dutch oven over medium heat.

Add the ground beef, diced onion, and chopped bell pepper to the pot. Cook until the beef is browned and the vegetables are soft, about 7 to 8 minutes.

Add the minced garlic and cook for another minute until fragrant.

Carefully drain any excess fat from the pot.

Stir in the pumpkin puree, diced tomatoes with their juice, kidney beans, and black beans.

Pour in the beef broth and stir everything together until well combined.

Add the chili powder, cumin, smoked paprika, salt, and black pepper. Stir well.

Bring the mixture to a gentle boil, then turn the heat down to low.

Cover the pot and let the chili simmer for 20 to 30 minutes, stirring occasionally.

Taste and add more salt or pepper if needed. Serve hot with your favorite toppings.