Gather all ingredients and prepare vegetables by dicing onion, chopping bell pepper, and mincing garlic.
In a large pot, heat olive oil over medium heat. Sauté diced onion for 3-4 minutes until translucent, then add minced garlic and cook for 1 minute.
Add ground beef to the pot, breaking it apart as it cooks. Brown the meat for 5-7 minutes and drain excess fat.
Stir in diced tomatoes, kidney beans, corn, and beef broth. Add chili powder, cumin, smoked paprika, salt, and pepper. Mix well.
Bring to a gentle simmer, then add diced potatoes and chopped bell pepper. Cover and let simmer for 25-30 minutes, stirring occasionally.
Check potatoes for tenderness, adjust seasoning if needed, and serve garnished with fresh cilantro or shredded cheese.