Sauté the base Turn the Instant Pot to Sauté mode. Add olive oil, then sauté ground beef with the garlic and onions for 2–3 minutes until fragrant.
Add chorizo. Cook for 5–7 minutes until browned, breaking it up with a spoon. Drain excess fat if needed. Then add oregano and fry the tomato paste until fragrant.
Add remaining ingredients Stir in the beans, diced tomatoes, broth, and all spices. Mix well.
Pressure cook Cancel Sauté mode. Secure the lid and set the valve to Sealing. Cook on Manual / Pressure Cook for 15 minutes.
Natural release Let the pressure release naturally for 10 minutes, then do a quick release for any remaining pressure.
Stir and serve Open the lid, stir well, and taste. Adjust seasoning if needed. Let it sit on Keep Warm for 10–15 minutes to thicken.