Treadmill Motor control board bad?

Might be a failure with the power supply, but what I would do is take a look inside and compare it to images online and see if anything looks different than a regular one. Might be some loose plugs inside, I had this issue once with a different brand, and it was a loose plug inside that caused the problem.

Yes your controller is probably bad. The way to know for sure is to attach a multimeter to the leads on the circuit board which connect to the drive motor (the motor with the drive belt that connects to the front roller). Set the meter to DC volts and should read over 40. It probably won't show any voltage once the treadmill stops. If it shows anything less than 10 volts DC then you have a bad circuit board.