Preheat your waffle iron according to the manufacturer's instructions.
In a large bowl, whisk together the flour, baking powder, sugar, and salt.
In another bowl, mix the milk, beaten egg, and melted butter until well combined.
Pour the wet ingredients into the dry ingredients and stir until just combined. Do not overmix.
Ladle the waffle batter onto the preheated waffle iron and cook according to the manufacturer's instructions until golden brown and crisp.
Once the waffles are done, top them with warm prepared chili.
Garnish with shredded cheddar cheese and chopped cilantro, if desired.
Serve immediately and enjoy your Chili Waffles!