Heat the olive oil in a large skillet or Dutch oven over medium-high heat. Add the chopped onion and bell pepper and cook, stirring occasionally, until softened, about 5-7 minutes.

Add the minced garlic and cook for another minute until fragrant, stirring constantly to prevent burning.

Add the ground beef to the skillet. Break it up with a spoon and cook until browned all over, about 5-8 minutes. Drain off any excess grease.

Stir in the ground cumin, dried oregano, smoked paprika, kosher salt, and black pepper. Cook for 1 minute to toast the spices.

Add the diced potatoes, tomato sauce, beef broth, and the bay leaf. Stir everything together to combine. Bring the mixture to a simmer.

Once simmering, reduce the heat to medium-low, cover the skillet, and let it cook for 15-20 minutes, or until the potatoes are tender when pierced with a fork. Stir occasionally to prevent sticking.

Uncover the skillet and stir in the halved green olives, raisins (if using), and apple cider vinegar. Let it simmer uncovered for another 5 minutes to allow the flavors to meld and the sauce to thicken slightly.

Remove the bay leaf. Taste and adjust seasoning with more salt and pepper if needed. Garnish with fresh cilantro and serve hot over white rice or with tortillas.