In a large pot or Dutch oven, heat olive oil over medium-high heat. Add sliced smoked sausage and cook until browned, about 5-7 minutes. Remove and set aside.

In the same pot, add chopped onion and diced bell peppers. Sauté until soft, about 5 minutes. Add minced garlic and stir for another minute.

Pour in diced tomatoes and tomato sauce, stirring to combine. Bring to a simmer for 2-3 minutes.

Add drained kidney and pinto beans, stirring to combine. Let simmer together for a couple of minutes.

Stir in uncooked rice and pour in chicken broth. Mix well. Bring to a boil, then reduce to a simmer.

Sprinkle in chili powder, smoked paprika, cayenne, and oregano. Season with salt and pepper. Return sausage to the pot and stir well.

Cover and simmer on low heat for 20-25 minutes, or until the rice is tender. Check occasionally to avoid overcooking.

Remove from heat and let sit, covered, for 5-10 minutes. Fluff the rice with a fork before serving.

Scoop into bowls, garnishing with chopped green onions and hot sauce if desired. Serve warm.