Rinse out Jasmine rice in a fine-mesh strainer and drain.
Place rice and water in Instant Pot inner pot. Stir to combine.
Close the lid and pressure cook on High Pressure for 4 minutes.
Once pressure cooking is complete, do a 10-minute natural release (i.e. let the rice stay in Keep Warm mode for 10 minutes after cooking is complete. Release remaining steam to depressurize Instant Pot), or allow pressure to release naturally. Open the lid. [Read More: The Different Pressure Release Methods]
Open Instant Pot and fluff rice with a fork before serving.
Use Pot in Pot Method *
Rinse out 2 cups of Jasmine rice in a fine-mesh sieve and drain.
Transfer rinsed rice and 2½ cups of water to a 1.75 quart or larger oven-safe medium bowl.
Pour 2 cups water into the Instant Pot's main compartment (inner pot) and place a trivet in the water.
Place rice bowl on trivet and close the Instant Pot.
Close the lid and pressure cook on High Pressure for 4 minutes.