Heat olive oil in a large non-stick skillet over medium-high heat.
Add the ground turkey and cook for 6-8 minutes, breaking it into small crumbles with a spatula until fully browned and cooked through.
Incorporate the diced red bell pepper, shredded carrots, and water chestnuts; sauté for 4 minutes until the vegetables are tender-crisp.
Add the garlic, ginger, and green onions to the pan and cook for 1 minute until fragrant.
Stir in the soy sauce, hoisin sauce, and sriracha, tossing the mixture to ensure even distribution; cook for an additional 2 minutes.
Remove the skillet from heat and let the mixture rest for 2 minutes.
Wash and dry the lettuce leaves, ensuring they remain intact to form cups.
Spoon the turkey and vegetable mixture into each lettuce leaf, garnish with fresh cilantro, and serve immediately.