Prep the rice and chicken: Rinse the rice under cold water until the water runs mostly clear. Pat the chicken dry and season both sides with a pinch of salt and pepper.
Sauté aromatics: Set the Instant Pot to Sauté and lightly coat the pot with olive oil spray or 1 teaspoon oil.
Add the onion and cook for 2–3 minutes until softened. Stir in the garlic and cook 30 seconds until fragrant. Cancel Sauté.
Layer the ingredients carefully: Add the rinsed rice in an even layer.
Pour in the chicken broth and gently nudge the rice so it’s submerged. Sprinkle in chili powder, cumin, smoked paprika, salt, and pepper. Add the salsa on top (do not stir).
Scatter the black beans and corn over the salsa (still don’t stir).
Add the chicken: Lay the chicken breasts on top of everything. This layering helps prevent a burn notice and keeps the rice fluffy.
Pressure cook: Seal the lid and set to High Pressure for 10 minutes. Make sure the valve is set to Sealing.
Natural release, then quick release: Let the pressure release naturally for 10 minutes, then carefully quick release any remaining pressure.
Open the lid.
Shred and finish: Remove the chicken to a plate and shred with two forks. Return it to the pot. Add lime juice and cilantro, then gently fold everything together.
Taste and adjust salt or lime as needed.
Serve your bowls: Spoon into bowls and add your favorite toppings. Keep it light with shredded lettuce, extra salsa, and a dollop of Greek yogurt, or go heartier with a little cheese and avocado.