Step 1

Finely chop yellow onion. Drain and rinse kidney beans. Set ingredients aside.

Step 2

Put 1 Tbsp. olive oil in the Instant Pot, select Sauté, adjust to High heat, and press Start (if needed for your model). When oil is shimmering and hot, add beef and sprinkle with salt. Stir to arrange the beef in an even layer in the bottom of the pot. Cook without stirring for 3 minutes. Stir, then continue to cook, stirring occasionally, until the meat is browned and crispy in places, about 5 minutes. Don’t break up the meat too much, as large chunks will result in a better texture. Transfer beef to a bowl with a slotted spoon.

Step 3

Add the remaining 2 Tbsp. olive oil and yellow onion to the pot and and cook, stirring occasionally, until tender, about 5 minutes. Press Cancel.

Step 4

Add chili powder, cumin, oregano, and garlic and stir to combine. Add broth to the pot and scrape up browned bits on the bottom of the pan with a wooden or metal spatula. This is important, as any browned bits stuck to the bottom of the pot may trigger the “burn” notification.

Step 5

Return beef to pot and stir to combine. Add remaining ingredients to pot in this order and do not stir: kidney beans, chili beans, and lastly, tomatoes with chilies and juice. (Do not add the tomato paste at this point.) Lock on the lid, select the Pressure Cook function, and adjust to High pressure for 15 minutes. Make sure the steam valve is in the “Sealing” position. Press Start if needed for your model.

Step 6

When the cooking time is up, let the pressure come down naturally for 10 minutes, then quick-release the remaining pressure. Remove the lid.

Step 7

Put tomato paste in a small bowl and whisk in 1/2 cup of the chili cooking liquid. Pour mixture back into the pot and select sauté. Adjust to medium heat, then simmer uncovered, stirring occasionally, until the chili has thickened slightly, about 4 minutes.

Step 8

Ladle chili into bowls and top with cheese, a dollop of sour cream, and green onions.