Add the cooked rice, lime juice, lime zest, ground cumin, and cilantro to a large bowl. Season with salt and black pepper, to taste, and stir to combine. Cover to keep warm and set aside.
Add two tablespoons of olive oil to a large skillet set over medium heat. Add the sliced bell peppers and red onion. Season with salt and black pepper, to taste, and stir to combine. 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 fresh shrimp to the skillet. (Add a little more olive oil, if necessary). Sprinkle it with ground cumin, chili powder, and garlic powder. Season with a little salt and black pepper and cook just until the shrimp turns opaque. Do this for approximately 3-4 minutes and do not overcook.
To serve, divide the seasoned rice between four serving bowls. Top the rice bowls with the cooked vegetables and tender shrimp. Garnish with additional cilantro and lime wedges, if desired. Enjoy!