Sear the venison – Heat the olive oil in a large pot over medium heat. Add the ground venison and cook for about 5-7 minutes, breaking it up as it browns. Once it’s no longer pink, remove it from the pot and set it aside.
Sauté the aromatics – In the same pot, add the diced onion, bell pepper, and garlic. Cook for 3-4 minutes until they soften and release their natural sweetness.
Toast the spices – Stir in the chili powder, cumin, smoked paprika, cayenne, oregano, salt, and black pepper. Cook for 1 minute, stirring constantly to wake up all those flavors.
Build the base – Add the fire-roasted tomatoes, tomato paste, and beef broth. Stir well to combine everything into a thick, rich sauce.
Bring it all together – Return the venison to the pot and add the kidney beans and black beans. Stir well, cover, and let it simmer on low heat for at least 45 minutes, stirring occasionally. The longer it cooks, the better it tastes!
Final touch – Stir in the apple cider vinegar and cocoa powder (if using). Let it simmer for 5 more minutes, then turn off the heat.
Let it rest – Chili always tastes better after it sits for a few minutes. Give it 10 minutes before serving so all the flavors can settle.