In a large pot or Dutch oven, heat the olive oil over medium heat.

Add the diced onion and cook for about 5 minutes until translucent, then stir in the minced garlic and cook for 1 minute until fragrant.

Add the ground beef and ground turkey, cook over medium heat until browned, about 7-8 minutes, breaking the meat into smaller pieces.

Stir in the chili powder, ground cumin, smoked paprika, salt, and black pepper, and cook for 1 minute to bloom the spices.

Add the diced red bell pepper and cook for 5 minutes until slightly softened.

Pour in the crushed tomatoes, kidney beans, and black beans, stirring to combine.

Add the beef broth and Worcestershire sauce, bring to a boil over medium-high heat, then reduce heat to low and simmer for 30 minutes.

If using, stir in the brown sugar to balance the acidity, taste and adjust seasoning before serving.