Heat the olive oil in a large Dutch oven or heavy pot over medium heat. Add the diced onion and red bell pepper, sautéing for about 5 to 7 minutes until soft and translucent.

Add minced garlic, chili powder, ground cumin, smoked paprika, dried oregano, and cayenne pepper. Stir constantly for 1 minute until fragrant.

Stir in the tomato paste until well combined with the aromatic vegetables and spices.

Pour in the fire-roasted diced tomatoes, black beans, red kidney beans, and vegetable broth. Stir thoroughly to incorporate all ingredients and scrape up any browned bits from the bottom of the pot.

Bring the liquid to a simmer, then reduce heat to low. Cover partially and let it simmer gently for 15 minutes to allow flavors to meld and chili to thicken.

Stir in the sweet corn kernels, salt, and black pepper. Simmer uncovered for an additional 3 minutes until the corn is warmed through.

Remove from heat and stir in the fresh lime juice to brighten the flavor. Taste and adjust salt or spices if needed. Serve hot.