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Place the trivet in your Instant Pot. Pour in 1 cup water (if using a 6-quart model) or 1 ½ cups water (if using an 8-quart model).
Cut off the tops of the peppers. With your fingers, gently pull out the seeds and membranes so that you have hollowed out pepper “shells.” If you are having trouble loosening the inner membranes of the peppers, use a dull butter knife to gently press them loose.
Stand the peppers up in the Instant Pot, nestling them beside each other so that they stay upright.
In a large mixing bowl, place the turkey. Sprinkle the chili powder, cumin, garlic powder, onion powder, salt, black pepper, and cayenne pepper over the top.
Next, pour in the diced tomatoes in green chiles and the can of green chilis.
Last, add the rice and ¾ cup shredded cheese (doing the ingredients in this order makes them easier to combine).
With a fork, gently stir to combine all of the ingredients as evenly as possible, being careful not to compact or overwork the meat. Make sure the spices are evenly distributed.
With a spoon, scoop the filling and lower it down into the peppers by heaping spoonfuls. Divide it evenly between the peppers and fill the peppers all the way to the top. The peppers will be very full.
Close and seal the Instant Pot. Cook on high (manual) pressure for 10 minutes (depending upon your model, the button may also say “pressure cook”). Once the pressure has built and the 10-minute timer has elapsed, immediately vent to release any remaining pressure.
Carefully open the Instant Pot. The meat should be completely cooked through at this point, but if you want to be 100% certain, test it with an instant read thermometer - it should be at 165 degrees F (if it is not for some reason, reseal and cook 1 to 2 additional minutes; if it's close (160 or more) a few minutes rest without cooking further should carry it over to a safe temperature. Sprinkle the remaining 1/2 cup cheese on top of the peppers. Replace the lid (no need to seal) and let sit for a minute to allow the cheese to melt.
With tongs, gently lift the peppers onto serving plates (some water may drip off as you lift; this is moisture that built as the peppers cooked; simply let it drip back into the pot as you lift out the peppers). Serve hot, sprinkled with fresh cilantro and any of your favorite toppings.