Press the Sauté button on the Instant Pot.
Once hot, add the ground beef and cook, stirring occasionally, until the meat is browned and broken into small pieces, about 5 minutes.
1 pound ground beef
Transfer the cooked ground beef to a bowl using a slotted spoon. Leave the drippings in the Instant Pot.
To the Instant Pot, add the onion and cook, stirring occasionally, until it is soft and just starting to brown, about 3 minutes.
1 onion
Add the bell peppers, garlic, paprika, and oregano and cook for an additional minute.
2 green bell peppers, 1 red bell pepper, 2 cloves garlic, ½ teaspoon smoked paprika, ½ teaspoon dried oregano
Add the diced tomatoes, broth, rice, and bay leaf. Transfer the ground beef back into the pot. Stir to combine.
30 ounces diced tomatoes, 4 cups low-sodium chicken broth, 1 cup uncooked long grain white rice, 1 bay leaf
Attach the Instant Pot lid and ensure the valve is in the “sealing position.” Set the Instant Pot to Pressure Cook - Manual for 4 minutes and cook.
Once the Instant Pot has finished, allow the pressure to naturally release for 10 minutes.
Remove the lid and stir the soup. Season with salt and pepper to taste. Remove the bay leaf.
Serve the soup with your desired toppings and enjoy.
Sour cream, sliced avocado, shredded cheese, and tortilla chips