Howdy cpmarashian,
Just to clarify, that option is found in WP Admin > Settings > General, not WP Admin > Events > Settings > General. It is a part of WordPress, not our plugin. That could definitely be confusing, so I have to make sure you are looking in the right place. If so, your WordPress might be corrupted, or perhaps another plugin is changing this screen? You might try disabling other plugins.
Does that make sense? Were you looking in the wrong perchance (even I did the first time, so I can totally sympathize if you were confused by this)? Please let me know. Cheers!
– Brook