Press the Saute button on the Instant Pot. Once hot, add ground beef and onion. Cook breaking up the ground beef until fully cooked. Drain off excess grease.
Add 1 tablespoon of olive oil and the onions along with seasonings and uncooked rice. Cook to toast uncooked rice for a minute.
Stir in canned tomatoes, black beans, corn, and broth.
Lock Instant Pot lid and set to manual high pressure for 7 minutes.
Use quick pressure release. Open Instant Pot and fluff the rice with a fork.
Sprinkle with the cheese, recover and let set for 1-2 minutes to melt cheese.
Serve in bowls and top with desired toppings. Serves 6.