Put all ingredients into a 6 or 8 qt instant pot. Stir well.
Secure and lock lid and cook on high pressure for 23 minutes.
When timer goes off, let the chili natural release for 15 minutes.
After 15 minutes, manually release the chili. Remove lid and stir.
The chili will be HOT, so let it cool for at least 20 minutes before serving. The chili will thicken as it cools. Serve with your favorite chili toppings!