Gather all ingredients.
Heat a large skillet over medium-high heat. Cook and stir ground beef in the hot skillet until browned and crumbly, 5 to 7 minutes. Drain and discard grease.
Transfer browned beef into a large pot over medium heat; stir in tomato juice, tomato sauce, kidney beans, pinto beans, onions, bell pepper, chili powder, cumin, salt, sugar, oregano, ground black pepper, and cayenne pepper.
Bring to a boil; reduce heat to low and simmer for 1 ½ hours.
