Heat olive oil in the pot over medium heat. Add diced onion and bell peppers. Sauté until softened and slightly caramelized.
Add minced garlic and ground bison meat. Break up the meat with a spoon and cook until browned.
Sprinkle in chili powder, cumin, paprika, salt, and pepper. Stir to coat the meat and vegetables with the aromatic spices.
Pour in crushed tomatoes and beef or bison broth. Stir well to combine.
Add drained kidney beans and give it a gentle stir.
Bring the chili to a gentle simmer. Cover the pot and let it cook for about 20-25 minutes, allowing the flavors to meld together.
Taste and adjust the seasonings as needed. If you prefer a thicker consistency, simmer uncovered for an additional 10 minutes.
Ladle the Bison Chili into bowls and top with your favorite garnishes - shredded cheese, sour cream, and chopped green onions.