In a medium Dutch oven over medium-high heat add the olive oil. Add the ground meat and cook, breaking up into pieces, until browned. Add the onions, bell pepper and jalapeno and cook until softened. Drain excess grease.
Add the tomatoes, tomato sauce, cumin, chili powder, salt, cayenne, paprika and 1 cup water. Mix to combine.
Add the kidney beans and black beans, mix and bring to a simmer. Cover and cook for 1-2 hours.