In a dutch oven or large sauce pan, cook ground beef over medium high heat until browned and fully cooked. Drain off fat, remove from the pan and set aside.
Using the same pan, add oil and cook bell peppers, onions and jalapeno until tender.
Add minced garlic and cook for one minute.
Return meat to pan and add chili powder, cumin, pumpkin puree, pinto beans, black beans, tomatoes and water. Stir to combine.
Bring to a simmer, cover and cook for about 20 minutes. You can add more water if needed.