Set your Instant Pot to Saute and toss in the first 6 ingredients.
Saute in Instant Pot until the onions are clear (about 10 minutes). Make sure you stir about every 2 minutes.
Pour in the rest of the ingredients and give it a stir.
Set your Instant pot to Manual (high) for 15 minutes. Seal the lid and let it cook!
Once the time is up, let it naturally release for about 10 minutes, then you can quick release. When I'm cooking rice in my Instant Pot, I like it to release naturally as long as I can just to make sure the rice has had time to absorb all of the moisture.
Remove the bay leaf and serve hot!