In a large pot over medium heat, melt butter. Cook onion, garlic, and bell peppers in butter until tender, 10 to 15 minutes. Stir in broth, potatoes, pepper and cumin and bring to a boil. Reduce heat and simmer 20 minutes, until potatoes are tender.
Place half the corn in a blender or food processor and puree until smooth. Stir pureed corn, remaining whole corn, kielbasa, milk and cream into soup. Simmer 20 minutes more.