Ensure the inner pot is clean and properly inserted. Plug in the Instant Pot and press the "Sauté" button. Adjust the heat level to "Normal" or "Medium" and wait until the display shows "Hot." This indicates that the pot is preheating.
Add the olive oil to the preheated Instant Pot. Once the oil is shimmering, add the diced onion and minced garlic. Sauté for about 2-3 minutes until the onion becomes translucent and the garlic is fragrant.
Add the ground beef to the pot and break it up with a wooden spoon or spatula. Cook the beef until it browns, stirring occasionally to ensure even cooking. This usually takes around 5-6 minutes.
Once the ground beef is browned, add the chili powder, cumin, paprika, dried oregano, salt, and black pepper to the pot. Stir well to evenly distribute the seasonings and coat the meat. Continue cooking for another minute to toast the spices and enhance their flavors.
Pour in the beef broth. Stir everything together, making sure to scrape the bottom of the pot to release any browned bits stuck to it.
Serve your Instant Pot Taco Meat with your favorite sides and toppings