Heat olive oil in a large pot over medium heat. Add chopped onion and minced garlic, and sauté until softened.
Add the ground elk meat to the pot and cook until browned, breaking it up with a spoon as it cooks.
Stir in diced bell peppers and cook for another 5 minutes until slightly softened.
Add the tomato paste, diced tomatoes, chili powder, ground cumin, paprika, salt, and black pepper. Stir well to combine.
Pour in the beef stock and bring the mixture to a simmer. Reduce the heat to low and let it cook for 30 minutes, stirring occasionally.
Add the cooked kidney beans and simmer for an additional 10 minutes, allowing the flavors to meld together.
Serve the elk chili hot, garnished with freshly chopped cilantro. Optionally, top with shredded cheese or sour cream.
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