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Heat canola oil in a large stockpot or Dutch oven over medium heat. Add ground beef and cook until browned, about 3-5 minutes, making sure to crumble the beef as it cooks; drain excess fat and set aside.
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Add onion and bell peppers. Cook, stirring occasionally, until tender, about 3-4 minutes.
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Stir in garlic, Italian seasoning and red pepper flakes until fragrant, about 1 minute.
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Stir in diced tomatoes, tomato sauce, beef broth and ground beef; season with salt and pepper, to taste. Bring to a boil; reduce heat and simmer until flavors have blended, about 15-20 minutes.