My folks had a treadmill that had the same arrangement on it when I was a little kid. The wire to the power switch and the speedometer came out of one side of the underside of the panel, and looped downward, going back up to enter the other side of the panel. I can see where it'd be a choking hazard to a kid that's climbing around on the treadmill.
A sucky situation all around, and a pretty obvious safety issue on treadmills that wouldn't seem very hard to correct.
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