Heat olive oil in a large pot over medium heat. Add the chopped onion and minced garlic, and cook until softened.
Add the ground turkey to the pot and cook until browned.
Stir in the diced tomatoes, kidney beans, black beans, and chicken broth.
Add the chili powder, ground cumin, paprika, salt, and black pepper. Stir well to combine.
Bring the mixture to a boil, then reduce the heat and let it simmer for about 30 minutes, stirring occasionally.
Serve hot, garnished with your favorite toppings like shredded cheese, sour cream, or chopped green onions.