Actually, its *probably* good enough. If there is 2mm creepage distance and clearance from any terminal, the track, and metal wiper contacts to the metal body and shaft, its OK for the application provided the panel is properly grounded, though I would advise adding sheet insulation between those terminal rivets and the panel! The problem with off-brand parts from Amazon etc. is you don't know if they are safe to use unless you buy two and tear one apart to check!
For comparison, this is the pot typically fitted to mini-lathes (which also use a mains live control circuit) sold in the USA:
https://littlemachineshop.com/products/product_view.php?ProductID=1282As you can see, its very similar, except it has a closed at Zero switch on the back to inhibit starting except from zero speed.
*DON'T* attempt to measure the voltage with respect to ground with a cheap multimeter. The multimeter needs to be high input impedance (typically 10 Meg) and both it and its test leads need to be rated for Cat II or higher use. A low impedance meter could damage the controller and an lower category or unrated meter and /or leads (or ones with a fake rating) may fail dangerously while measuring mains, putting the user at risk of electrocution and/or severe burns.
If you are tempted to use an cheap or unrated meter, switch off the mains supply, put it on the bench with the leads away from anything else, set the range, clip or otherwise fasten its leads to the points you are testing between, and only then switch on the mains supply. Take the measurement *WITHOUT* touching the meter or leads, and switch off the supply before disconnecting the leads.
The voltage with respect to ground is pulsing at 60Hz. Expect to see a lot less on the meter than the -170V peak I previously mentioned - depending on the meter somewhere around -55V DC could well be 'in the ballpark'