Press the “Sauté” button on the Instant Pot, and add the oil, onions and garlic to the pot. Saute for 1-2 minutes, then add the ground beef. Cook until the beef is browned.
Add the remaining ingredients to the pot, then cover and lock the lid.
Press the “Keep Warm/Cancel” button on the Instant Pot, then press the “Bean/Chili” button to begin the pressure cooking. It will automatically be set for 30 minutes. Make sure the steam valve is closed.
Once the chili is done, the Instant Pot will automatically switch to the “Keep Warm” mode. Allow the pressure to release naturally (I do not recommend using quick release as the pot is very full).
Garnish with cilantro, cheese, or sour cream if desired.