Turn the Instant Pot to saute, add in the oil, and let heat.
Once the oil is heated, add in the onion and saute until translucent and softened about 2-3 minutes. Once the onion has softened, add in the garlic, chili powder, oregano, cumin, salt, and cayenne and saute for just 30 seconds to a minute, just to toast the garlic and spices.
Add in the wine and scrape up any browned bits on the bottom of the instant pot to prevent a burn warning. Allow the wine to cook for 1-2 minutes. Turn off the Instant Pot by hitting cancel.
Add the vegetable broth to the inner pot. Add the rinsed lentils and beans to the inner pot and stir to combine.
Top the mixture with tomato sauce and diced tomatoes. DO NOT STIR.
Place the lid on the inner pot and be sure the venting knob is pointed to sealed. Set the cooking time to HIGH PRESSURE for 15 minutes. Do this by hitting manual or pressure cook and use the +/- buttons to adjust the time.
Once the cooking time has elapsed, allow the pressure to release naturally for at least 15 minutes. Once pressure has been released, open up the instant pot. The chili will look thick due to the tomatoes on top of the chili. Don't be alarmed. Add in the balsamic vinegar and stir to combine.
Serve with avocado and cilantro as desired.
Video
Notes
Red Wine: Dry red wine, like Merlot or Cabernet, is recommended for this Lentil Chili, but feel free to use additional vegetable broth in place of the wine. Lentils: Use green or brown lentils, not yellow or red lentils. Storage: Allow leftover Lentil Chili to cool to room temperature and then store any leftovers in an airtight container in the refrigerator for up to 5 days. Or store in a freezer-safe container for up to 3 months in the freezer. If you notice your chili is too thick after refrigeration, add a bit more stock to loosen up the chili before reheating.