Turn the Instant Pot to the sauté setting and add in a little olive oil. Brown the ground beef and sausage in batches, then set aside. Add in the onion and continue sautéing for 2-3 minutes, then add in the garlic for about 25 seconds. Add in the chili seasoning and toast the spices (while stirring) for about 30 seconds.
Select the keep warm/cancel setting, then add in the chicken stock to deglaze and scrape up the brown bits on the bottom. Add in the remaining ingredients, including the ground beef and sausage.
Mix well and put the lid securely in place. Set the steam vent to sealing and select the bean/chili setting for 30 minutes, then allow to vent naturally.
Once the pressure has completely released, carefully remove the lid away from you. Serve with your choice of toppings. I served mine with a dollop of sour cream, shredded cheddar and sliced scallions.
There are so many different toppings that you can add to your chili, like sour cream, cilantro, scallions, avocado, shredded cheddar cheese, onions, chopped jalapeño peppers and more!