How to fix:
Option 1: Disable WYSIWYG editor for user
In WordPress admin panel, go to “Users” tab and uncheck “Use the visual editor when writing” box.
Option 2: go inside the code and fix it
Find file wp-includes/js/tinymce/tiny_mce_config.php and change this line:
$valid_elements = 'p/-div[*],-strong/-b[*],-em/-i[*],-font[*],-ul[*],-ol[*],-li[*],*[*]';
to this:
$valid_elements = '-strong/-b[*],-em/-i[*],-font[*],-ul[*],-ol[*],-li[*],*[*]';
EDIT: Apparently it doesn’t work for version 2.3.x, so here’s the fix for that:
change
‘p/-div[*]
to
‘p[*],-div[*]