- Place the ground beef in the pressure cooker over medium high heat; cook until brown and crumbly, 8 to 10 minutes. Remove the ground beef, and drain off the excess fat.
- Return the open pressure cooker to the burner over medium heat, pour in the olive oil, and stir in the onion, green pepper, and jalapeno pepper. Cook and stir for 3 to 4 minutes, until the onion is translucent. Add the garlic, and cook and stir for about 30 more seconds. Return the meat to the pressure cooker; mix in the kidney beans, diced tomatoes, tomato paste, brown sugar, cocoa powder, red pepper flakes, chili powder, cumin, salt, and water.
- Lock the lid, bring the cooker up to pressure, reduce heat to maintain pressure, and cook for 8 minutes. Remove cooker from the heat, and let the pressure reduce on its own, 5 to 10 minutes.
- When the pressure is fully released, remove the lid, stir the chili, and serve.