I think it is similar to option 4 or 6?
Yep! With the addendum that I’m also limiting the utility function by the same sorts of bounds. Eliezer in Pascal’s Muggle (as I interpret him, though I’m putting words in his mouth) was willing to bound agents subjective probabilities, but was not willing to bound agents utility functions.
Why is seconds the relevant unit of measure here?
The real unit is “how many bits of evidence you have seen/computed in your life”. The number of seconds you’ve lived is just something proportional to that—the Big Omega notation fudges away proportionality constant.
It amuses me that ElectionBettingOdds.com is still operational and still owned by FTX Trading Ltd.