Push saute on the Instant Pot and allow the inner liner to become hot. Once hot add in 2 TBS of butter. Let the butter melt then add in a cinnamon stick, cumin seeds and bay leaf. Stir and allow to saute for about 1 minutes.
While still in saute mode, add in chopped onion, minced garlic and minced ginger and stir. Allow to saute for about 5 minutes.
Add coriander, turmeric, pepper, cayenne and salt and stir. Once combined, add in cubed chicken thighs to make sure all spices are completely covering the chicken.
Add 1/2 cup of water to your Instant Pot and press the poultry button on the pot. Adjust the time to 8 minutes. Seal the valve and allow to come to pressure.
Once down, quick release pressure and carefully open the lid. Add in cubed potatoes and garam masala and stir.
Close lid, seal valve and press manual button. Adjust time to 6 minutes.
When time goes off, quick release the pressure and open the pot. Serve with rice and garnish with cilantro.