01 - Heat olive oil in a large Dutch oven over medium-high heat. Add beef cubes and brown on all sides, about 5 minutes. Remove beef and set aside.
02 - In the same pot, add diced onion and bell peppers. Sauté for 4 to 5 minutes until softened. Add minced garlic and cook for 1 minute.
03 - Stir in tomato paste and cook for 1 minute, then return browned beef to the pot.
04 - Add diced tomatoes, beef broth, kidney beans, black beans, chili powder, cumin, smoked paprika, oregano, cayenne pepper if using, salt, and pepper. Bring to a boil, reduce heat to low, cover, and simmer for 45 minutes, stirring occasionally.
05 - In one bowl, combine cornmeal, flour, sugar, baking powder, and salt. In another bowl, whisk egg, milk, and melted butter. Add wet ingredients to dry, stirring just until combined without overmixing.
06 - After 45 minutes of simmering, uncover pot and drop spoonfuls (about 2 tablespoons each) of cornbread batter evenly onto the chili surface.
07 - Cover pot and simmer on low heat for 20 to 25 minutes until dumplings are puffed and cooked through.
08 - Serve the chili hot, optionally garnished with chopped cilantro, sour cream, or shredded cheese.