Start by adding the olive oil to your Instant Pot and pressing the "Sauté" button. Once hot, add the lean ground beef and diced onion. Break up the beef as it cooks until it's nicely browned and the onions become tender and translucent.
Stir in the minced garlic and cook for just one more minute until it's fragrant.
If there's any excess grease, carefully drain it away. Then, return the beef and onion mixture to the Instant Pot.
Pour in the low-sodium beef broth and tomato sauce. Now, add all the wonderful seasonings: chili powder, cumin, cinnamon, allspice, ground cloves, the bay leaf, apple cider vinegar, unsweetened chocolate (or cocoa powder), and Worcestershire sauce. Give everything a good stir to combine.
Press "Cancel" to turn off the Sauté function. Secure the lid on your Instant Pot, ensuring the venting knob is set to the "Sealing" position. Select the "Manual" or "Pressure Cook" setting and set the cook time for 5 minutes on high pressure.
Once the cooking cycle is complete, perform a quick pressure release by carefully turning the venting knob to "Venting." When the float valve drops, you can safely open the lid. Remember to carefully remove the bay leaf.
For that signature Cincinnati chili texture, use an immersion blender directly in the pot. Blend until the chili reaches your desired smooth consistency.
Taste the chili and adjust the seasonings with salt and freshly ground black pepper as needed. Your easy and delicious Cincinnati Chili is ready to enjoy! Serve it warm over a bed of cooked spaghetti, and top with finely shredded cheese, diced onions, or beans if you like.