Heat the olive oil in a large pot or Dutch oven over medium heat.
Add the diced onion, minced garlic, and diced bell pepper. Sauté for about 5 minutes, or until the vegetables are softened.
Stir in the chopped carrots and cook for another 3 minutes.
Add the pumpkin puree, black beans, kidney beans, diced tomatoes with juice, and vegetable broth to the pot.
Sprinkle in the chili powder, ground cumin, smoked paprika, cinnamon, and season with salt and pepper. Stir well to combine.
Bring the mixture to a boil, then reduce the heat to low. Simmer for about 20 minutes, stirring occasionally to ensure it doesn’t stick to the bottom.
Taste and adjust seasoning if necessary.
Serve hot, topped with optional toppings if desired.