Heat olive oil in large soup pot. Add chopped onion and cook 5 minutes. Add ground beef and break it apart with a wooden spoon. Cook for 6-7 minutes.
Add chili powder, cumin, sugar, tomato paste, garlic powder, salt, pepper, and optional cayenne. Stir until well combined.
Add diced tomatoes, kidney beans, beef broth, and tomato sauce. Stir well.
Simmer for 20-25 minutes. Let the chili rest for 5-10 minutes before serving.
shredded cheese, cheddar, cotija, or other preference
sliced green onions
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