With the rack in the middle position, preheat the oven to 350°F (180°C). Line a baking sheet with parchment paper or a silicone mat.
Place the popcorn in a large bowl and set aside.
In a small saucepan, melt the butter with the chili powder, paprika, garlic salt and cayenne pepper. Drizzle the hot mixture over the popcorn. With a spatula, toss to coat well. Spread on the prepared baking sheet.
Bake for 5 minutes. Let cool completely on the baking sheet to dry.
The popcorn will keep for about 2 weeks in an airtight container or sealable bag.
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