Heat olive oil in a large pot over medium heat. Add diced onion and sauté for 5-7 minutes until translucent. Stir in minced garlic and cook for another minute.

Introduce lean ground beef, breaking it apart as it cooks. Brown undisturbed for about 4-5 minutes, then stir until no longer pink.

Sprinkle chili powder, smoked paprika, ground cumin, and ground cinnamon. Stir and toast for 1-2 minutes.

Add tomato paste, cooking for a minute. Then pour in diced tomatoes with their juices.

Pour in beef broth, bring to a boil, then reduce heat to low and simmer uncovered for 30 minutes.

Drain and rinse kidney and black beans, fold into the mixture, and simmer for an additional 15 minutes.

Taste and adjust seasoning with salt and black pepper as needed before serving.