Heat oil in a large skillet over medium-high heat. Add ground beef and cook, breaking it up, until deeply browned, 5 to 6 minutes. Drain excess fat and transfer beef to a plate.

To the same skillet, add onion, jalapeño, and potato. Cook, stirring often, until onion softens and potatoes begin to color, about 5 minutes. Stir in garlic, cumin, and oregano and cook 30 seconds.

Return beef to the skillet. Add tomato sauce, broth, bay leaf, salt, pepper, raisins, and olives. Stir, bring to a simmer, then reduce heat to low. Cover and cook for 15 to 20 minutes, stirring occasionally, until potatoes are tender and sauce thickens.

Remove bay leaf. Spoon into bowls, top with cilantro, and serve hot.