Looks like you’re using Karma by TrueThemes.
One of its distinguishing features is that it filters all of the output in a page or post – in this context that includes the output of The Events Calendar – and applies various formatting effects, such as adding paragraph and break tags (using a filter function called my_formatter()).
This can sometimes be undesirable … to counteract it you would need to wrap any output from The Events Calendar (and actually any other plugins where this is a problem) in some special “shortcodes”:
[raw] ... output from The Events Calendar ... [/raw]
The role of those [raw] [/raw] “shortcodes” within Karma is to mark areas where this extra formatting should not be applied (so for instance anything between [raw] and [/raw] should not result in the injection of <p> and <br> tags).
I hope that makes sense, but if you need any clarification on this it would probably be better to reach out to your theme vendor and seek their advice, since my_formatter() and the [raw] [/raw] shortcodes are unique to their themes (so far as I know).