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.
Notes
Ingredient notes
Spiciness: For a very mild chili, use all mild, ground paprika. For 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. Season individual portions with hot sauce.
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.
Cooking tips
scrape the bottom of the pot REALLY well to remove any stuck pieces to avoid the burn warning
measure the cup of beef broth EXACTLY - do not skimp on liquids
make sure the lid is sealed correctly to avoid a prolonged cooking time