Set your Instant Pot to sauté mode. Once it has heated and is ready to sauté, add a splash of water to the Instant Pot to prevent sticking, and toss in your diced onion. Allow to sauté about 3 minutes, stirring occasionally and adding more water as needed to prevent sticking.
Add your garlic, bell pepper, and carrot to the Instant Pot. Continue to sauté another 3 minutes. By this time your onions should be slightly translucent.
Add in garlic powder, cumin, chili powder, dried oregano, and smoked paprika. Give everything a stir so that the veggies are all evenly coated in the spices.
Add in your fire roasted tomatoes, corn, veggie broth, black beans, kidney beans, and pinto beans. Give it a stir so everything is evenly incorporated.
Pour your tomato sauce on top but do not stir. (Tomato sauce is rather heavy and if it falls to the bottom of your pot it is likely to cause a "burn" notice on your Instant Pot. This is less likely to happen by letting it sit on top!).
Turn off the sauté function on the Instant Pot, and set it to pressure cook on high for 8 minutes. Place and secure the Instant Pot lid, make sure the valve is set to "sealing", and allow the Instant Pot to come to pressure and complete its 8 minute pressure cook (it usually takes mine about 15 minutes to come to pressure before the 8 minutes begins)
Once the Instant Pot has completed its 8 minute pressure cook, allow the Instant Pot to naturally release for 5 minutes (this just means to let it sit for 5 minutes and don't touch it!). After 5 minutes, move the valve to "venting" and allow the pressure to "quick release". Once the pressure has been released, remove the Instant Pot lid (your Instant Pot should have a little metal pin called a "floating valve" that will drop when the pressure is adequately released and you can open the pot).
Give the chili a stir, and then let it sit for about 10 minutes. It will thicken slightly during this time.
Stir in lime juice and salt. Serve however you wish and enjoy!