Set your Instant Pot to Saute mode with a timer of 10 minutes.
Saute the ground beef and onions until the ground beef is fully cooked and the onions are soft. Drain grease.
Add in the remaining ingredients.
Stir to combine.
Close the lid and seal the valve. Set to High Pressure for 5 minutes and allow a 5 minute Natural Pressure Release before manually releasing the rest.
Stir the chili and serve warm with your favorite sides and toppings.