Heat olive oil in a large skillet over medium heat. Add the diced potatoes and cook until golden on the edges, about 8 minutes. Remove and set aside.
In the same skillet, sauté the onions and garlic until fragrant. Add the ground beef and cook until browned.
Stir in tomatoes, tomato sauce, cumin, paprika, chili powder, salt, and pepper. Let it cook for a few minutes until the flavors blend.
Pour in the beef broth and bring it to a simmer. Add the cooked potatoes back in along with green peas, if using.
Cover and cook for 15 minutes, stirring occasionally, until the sauce thickens and the potatoes are tender.
Garnish with fresh cilantro and serve hot with warm tortillas or rice.