Cook first 3 ingredients in a Dutch oven over medium-high heat, stirring often, 8 to 10 minutes or until meat crumbles and is no longer pink; drain.
Cook chili powder and cumin in hot olive oil in Dutch oven over medium heat, stirring constantly, 2 to 3 minutes or until fragrant. Add tomato paste, and cook, stirring constantly, 2 minutes. Add diced tomatoes, next 7 ingredients, and beef mixture; bring to a boil over medium-high heat. Cover, reduce heat to medium-low, and simmer 30 minutes. Serve with desired toppings.