Prepare cilantro-lime rice according to recipe here, or substitute with your favorite cooked rice.
Add two tablespoons olive oil to a large skillet set over medium-high heat until shimmering. Add the bell peppers and onion and season with a pinch of salt and pepper. Cook, stirring occasionally, until the vegetables soften and develop a bit of color, approximately 10 minutes.
Transfer the veggies to a plate and add the shrimp to the skillet. (Add a little more olive oil, if necessary). Sprinkle with ground cumin, chili powder, and garlic powder. Season with salt and black pepper, to taste, and cook just until the shrimp turns opaque, approximately 3-4 minutes. Do not overcook.
To serve, divide the rice between four serving bowls and top each bowl with the cooked vegetables and shrimp. Garnish with additional cilantro and lime wedges, if desired. Enjoy!