Instant Pot® Shrimp Risotto with Peas

Turn on a multi-functional pressure cooker (such as Instant Pot®) and select Saute function on normal setting according to manufacturer's instructions.

Add 2 tablespoons butter and olive oil; stir in shallot and garlic and cook until softened, about 1 minute.

Stir in rice and cook until coated and toasted, about 3 minutes.

Add wine, scraping and deglazing the bottom of the pot with a wooden spoon; cook until wine has evaporated, about 1 minute.

Turn off Saute function.

Stir in chicken broth, clam juice, thyme, and red pepper flakes.

Close and lock the lid.

Select high pressure according to manufacturer's instructions; set timer for 6 minutes.

Allow 10 to 15 minutes for pressure to build.

Release pressure using the natural-release method according to manufacturer's instructions, for 5 minutes.

Release remaining pressure carefully using the quick-release method according to manufacturer's instructions.

While pressure is releasing on the pot, melt 1 tablespoon butter in a large skillet over medium-high heat.

Add shrimp and season with paprika, salt, and pepper.

Cook until shrimp are opaque, about 3 minutes.

Unlock and remove the lid on the Instant Pot®. Stir shrimp, peas, Parmesan cheese, and remaining butter into rice mixture.

Divide among bowls and serve.