Set the Instant Pot to "sauté" mode. Once the metal insert is hot, add a tablespoon of cooking fat (I like avocado oil).
Add the beef, cooking until browned and crumbled. Add the bell peppers, onion, garlic, and jalapeño, and cook for 2-3 minutes, until just softened.
Stir in the remaining ingredients (tomato sauce, diced tomatoes, and spices) then place the lid on top of the Instant Pot.
Make sure the lid is locked and the vent is set to "sealing". Cook on "meat/stew" (high pressure) for 10 minutes, then allow the pressure to release naturally.
Season with additional salt & pepper to taste, and serve hot with your choice of garnishes. Enjoy!