Heat olive oil on high using sauté mode. Add garlic, onion, green peppers, celery and sauté until translucent. Remove from Instant Pot and set aside.
Add ground beef, stir into bits until browned. Stir in sautéed veggies and spices (chili paste, chili powder, chipotle powder, paprika, cumin, cayenne, oregano, basil, garlic powder, salt, and black pepper).
Deglaze pot with red cooking wine an Worcestershire sauce. Turn off sauté function and ad remaining ingredients (beans, tomatoes, beef stock, cacao powder, brown sugar, apple cider vinegar, tomato paste, and bay leaves).
Cover and set lid to vent. Use slow cook mode on high for 4 hours; stir occasionally.
Remove bay leaves before serving.