Set the Instant Pot to sauté mode and cook the ground beef with the diced onion until the beef is browned and the onion is softened.
Add the Rotel tomatoes, crushed tomatoes, cumin, chili powder, curry powder, and beef broth into the Instant Pot. Stir to combine.
Without stirring again, secure the lid onto the Instant Pot and ensure the valve is set to sealing mode.
Select the chili/bean setting and adjust the cooking time to 12 minutes. Allow the Instant Pot to come to pressure, cook, and release pressure naturally.
Once the pressure has fully released, carefully switch the valve to venting. If the chili needs thickening, stir in the tomato paste until fully dissolved and heated through.
Ladle into bowls, serve, and enjoy your hearty Instant Pot chili!