Step 1

Add chicken and broth into bottom of Instant Pot. Dump the chili beans, corn, tomatoes, green chiles, bacon, ranch dressing mix, cumin, chili powder,  onion powder and cream cheese on top of the chicken. Don’t stir.

Step 2

Cover the Instant Pot and secure the lid. Make sure the valve is set to sealing. Set the SOUP button (if you don’t have a soup button use the manual/pressure cook button) to 10 minutes. When the time is up let the pot sit for 5-10 more minutes and then move the valve to venting. Remove the lid.

Step 3

Use tongs to remove the chicken and place it on a cutting board. Shred up the chicken well and add it back into the pot. Stir the chili so that the cream cheese melts. Stir in the cheddar cheese.

Step 4

To thicken use a cornstarch slurry. Take 2-3 Tbsp of cornstarch and 2-3 Tbsp of cold water and stir together in a small bowl until smooth. Then turn the Instant Pot to the saute setting. Stir the slurry into the Instant Pot and the chili will thicken quickly. Once chili is thick turn off the Instant Pot. Ladle chili into bowls and serve.