Heat olive oil in a large pot over medium heat. Add onion and cook for 2–3 minutes until softened.
Stir in garlic, bell pepper, and carrot. Sauté for 3–4 minutes until slightly tender.
Add diced tomatoes with juices and chicken broth. Bring to a gentle simmer.
Stir in chili powder, smoked paprika, cayenne, cumin, salt, and pepper. Simmer for 5–6 minutes to develop flavor.
Add shrimp and cook for 3–4 minutes until pink and opaque.
Stir in lime juice, adjust seasoning, and remove from heat.
Serve hot, garnished with cilantro and lime wedges.