Heat 2 tablespoons of olive oil in a large heavy-bottom pot over medium heat until shimmering.

Add 1 diced large onion and 1 diced green bell pepper plus 1 diced red bell pepper. Sauté for about 5 minutes until softened.

Add 4 minced cloves of garlic and cook for 1 minute until fragrant.

Stir in 1 pound of ground beef and 1 pound of ground pork, breaking the meat apart and cooking for about 8 minutes until browned.

Mix in 2 tablespoons of tomato paste, 2 tablespoons of chili powder, 1 tablespoon of ground cumin, 1 teaspoon of smoked paprika, 1 teaspoon of dried oregano, 1 teaspoon of salt, ½ teaspoon of black pepper, and ¼ teaspoon of cayenne pepper. Cook for 2 minutes.

Pour in 1 can of diced tomatoes, 2 cups of beef broth, 1 can each of drained kidney beans and pinto beans, and 1 minced chipotle pepper in adobo. Stir to combine.

Bring to a gentle boil, then reduce to low heat and simmer uncovered for at least 1 hour, stirring occasionally.

In the last 10 minutes, stir in 1 tablespoon of brown sugar to balance the heat.

Taste and adjust seasoning as needed before serving.

Ladle the hot chili into bowls and serve immediately with your favorite toppings.