Heat olive oil in a large Dutch oven or heavy-bottomed pot over medium-high heat. Add diced onion and bell pepper, cooking for about 5 minutes until they start to soften and look slightly translucent. Add minced garlic and cook for another minute until fragrant.

Add ground turkey to the pot, breaking it apart with a wooden spoon. Cook for 6-8 minutes until no longer pink, stirring occasionally. The turkey should develop some golden-brown bits.

Stir in tomato paste and cook for 1 minute until it darkens slightly. Add chili powder, cumin, smoked paprika, and oregano, stirring constantly for 30 seconds until the spices smell toasted and aromatic.

Pour in crushed tomatoes, chicken broth, and brown sugar. Add kidney beans, black beans, salt, and pepper. Bring everything to a boil, then reduce heat to low and simmer partially covered for 30 minutes.

Taste and adjust seasonings as needed. The chili should be thick enough to coat a spoon but not dry. If too thick, add more broth. If too thin, simmer uncovered for a few extra minutes.