Pour 1 tablespoon of olive oil in your Instant Pot and turn it on to saute mode. Saute the onion, red pepper, celery, and garlic once the Instant Pot is hot enough until they begin to soften, about 2-minutes. 

Add the remaining olive oil in addition to the beef and pork and cook until it begins to turn brown, about 3-4 minutes. Drain the fat. 

Add in the chili powder, smoked paprika, cayenne, and allspice as well as the salt and pepper to taste. Continue to cook until the meat is completely cooked, about 3-4 minutes. 

Add the fire-roasted diced tomatoes, crushed tomatoes, tomato paste, water, and bay leaves. Stir until well combined. 

Cover the Instant Pot (make sure it’s set to sealing) and turn it to manual mode on high pressure for about 10 minutes. 

Allow the steam to release naturally once cooked. Remove the lid and stir. 

Serve the chili with your favorite low carb toppings and enjoy!