Heat olive oil in a large pot or Dutch oven over medium-high heat.
Add the diced onion and green bell pepper, cooking until softened for about 5 minutes.
Add the ground beef and cook until completely browned, draining any excess fat if needed.
Stir in the chili powder, cumin, smoked paprika, garlic powder, onion powder, salt, and black pepper, cooking for 1 minute until fragrant.
Pour in the pumpkin puree, diced tomatoes, black beans, and pinto beans, stirring well to combine.
Bring the chili to a gentle boil, then reduce heat to low, cover, and let simmer for at least 20 to 30 minutes to blend flavors.
Serve warm with your favorite chili toppings.