1. Bring rice and 4 cups water to a boil in a large saucepan over medium-high heat; reduce heat to low, and simmer, uncovered, 20 minutes. Drain rice, and return to saucepan.
2. Stir milk and sugar into rice. Cook, uncovered, over low heat 40 minutes. Stir in evaporated milk and ground cardamom. Cook 5 minutes. Remove from heat. Stir in pistachios.
3. Spread pudding into a 13- x 9-inch baking dish. Cover and chill 1 to 24 hours. Serve in dessert bowls. Garnish, if desired.