01 - Heat olive oil in a large pot over medium heat. Add diced onion and cook until translucent, approximately 3 minutes.
02 - Stir in minced garlic, red bell pepper, and green bell pepper. Sauté for 4 minutes until vegetables are softened.
03 - Add ground beef to the pot, breaking it apart with a wooden spoon. Cook until fully browned, about 6-8 minutes.
04 - Stir in tomato paste, cumin, chili powder, smoked paprika, dried oregano, and cayenne pepper. Cook for 1 minute until spices become fragrant.
05 - Pour in crushed tomatoes, kidney beans, black beans, and beef broth. Season with salt and black pepper, stirring well to incorporate.
06 - Bring mixture to a boil, then reduce heat to low. Cover and simmer for 45 minutes, stirring occasionally to prevent sticking.
07 - Preheat oven to 400°F. Grease an 8-inch square baking pan with butter or cooking spray.
08 - In a medium bowl, whisk together cornmeal, flour, sugar, baking powder, and salt until thoroughly combined.
09 - In a separate bowl, beat milk, eggs, and melted butter together. Pour wet mixture into dry ingredients and stir until just combined.
10 - Pour batter into prepared baking pan. Bake for 20-22 minutes, or until a toothpick inserted in the center comes out clean.
11 - Ladle hot chili into bowls and serve alongside warm cornbread squares.