01 - Preheat oven to 375°F. Lightly grease a 9x13-inch baking dish.
02 - In a large skillet, heat olive oil over medium heat. Add chopped onion, diced bell pepper, and minced garlic. Sauté until the vegetables are softened, approximately 4 minutes.
03 - Add the ground beef to the skillet with the sautéed vegetables. Cook until the beef is thoroughly browned, breaking it apart as it cooks. Drain any excess fat if necessary.
04 - Stir in chili powder, ground cumin, smoked paprika, salt, and black pepper. Continue to cook for 1 minute, allowing the spices to become fragrant.
05 - Incorporate the tomato paste, diced tomatoes, tomato sauce, and drained chili beans into the skillet. Bring the mixture to a simmer and cook for 8 to 10 minutes, stirring occasionally, allowing the flavors to meld. Adjust seasoning to taste.
06 - Arrange the halved hot dog buns, cut side up, in a single layer within the prepared baking dish. Evenly distribute the sliced hot dogs over the buns.
07 - Pour the prepared chili mixture over the hot dogs and buns, spreading it evenly across the dish. Generously sprinkle the shredded cheddar and mozzarella cheeses over the top of the chili layer.
08 - Bake the casserole, uncovered, for 20 to 25 minutes, or until the cheese is melted, bubbly, and lightly golden.
09 - Allow the casserole to cool for 5 minutes before portioning and serving.