Brown beef and vegetables: Press "sauté" button on 6-quart instant pot. Add oil, then add onion and green pepper and cook for 2-3 minutes. Add beef and cook until no longer pink.
Stir in seasoning and liquids: Switch off instant pot, then stir in beef broth. Scrape any browned bits off the bottom of the pot (do this well, or you may trigger the "burn" warning). Stir in tomato sauce, chili powder, ground cumin, oregano, salt and pepper.
Pressure cook: Lock lid. Pressure cook on high for 5 minutes. Do a natural pressure release for 5 minutes (just leave the switched off instant pot alone). Then release any remaining pressure naturally.
Finish and serve: Open lid and stir in kidney beans and corn. Press sauté button and simmer for 4-5 minutes, until heated through and thickened to your liking. Serve with toppings of choice.
Make a mild chili: For a very mild chili, definitely use all ground paprika. Make sure your ground paprika is mild.
Make a spicy chili: Use all chili powder and add ¼ teaspoon cayenne pepper as well. You can also use hot sauce or a chopped chili pepper if you prefer. OR use a can of chili beans instead of plain kidney beans. Your call! Just be mindful that it might turn out spicier than you intend.
To add spice to individual portions: When I make this very mild (because of the 3 young kids we have), my husband finds it a bit boring. I'm a baby and hate spicy food, so I don't mind ?, but he likes to add either hot sauce or chipotle chili flakes over his portion.
Beef: Feel free to use extra-lean beef or even ground turkey. Note that the chili will be less rich, so you might want to stir in a tablespoon or two of sour cream right before serving.
For a creamy chili: Stir in a few tablespoons of refried beans, or blend about ½ can of plain kidney beans to a puree and add that. You might need to thin with a bit more beef broth.
To make sure you don't get the BURN message on the instant pot, do the following:
scrape the bottom of the pot REALLY well to remove any stuck pieces
measure the cup of beef broth EXACTLY. if you don't have enough liquid in the pot, the burn warning comes on faster
make sure the lid is sealed correctly, otherwise the cooker takes too much time to come to pressure and the ingredients are more likely to get stuck and burn on the bottom