Heat instant pot to sautee. Once instant pot display reads "Hot" add vegetable oil. Carefully place chicken legs into instant pot and brown on all sides, about 8 minutes total.
Turn off instant pot.
Mix together garlic powder, onion powder, salt, pepper and chili powder and sprinkle on top of chicken legs.
In a small bowl, whisk together vinegar, ketchup, molasses and Worcestershire sauce.
Pour on top of chicken legs.
Cover and seal shut. Close the pressure release valve. Set the instant pot to manual, high pressure for 12 minutes. When cooking is complete, quick release pressure and carefully open the instant pot.