Step 1

Bring water to a boil in a large soup pot, reduce heat to low, and cook onions in the simmering water until translucent, 5 to 8 minutes. Add ground beef to onions; cook and stir until ground beef is browned and crumbly, about 10 more minutes. Sprinkle beef with salt and black pepper as it cooks. Drain excess grease.

Step 2

Heat olive oil in a large skillet over medium heat; cook and stir bell peppers in the hot oil until softened, about 5 minutes. Add peppers to meat mixture. Stir vegetable juice cocktail, diced tomatoes, tomato soup, chorizo sausage, green chiles, chili powder, and adobo seasoning into mixture until combined.

Step 3

Bring chili to a boil, reduce heat, and simmer until thickened, about 30 minutes. Cover and continue simmering to blend flavors, about 20 minutes more.