I suspect the end cap has removed and the nut that secures the race has come off so you have probably lost your balls (excuse me). Might be possible to rebuild.
It looks like old Shimano or a copy thereof. Either the spindle has broken at the end or the lock-nuts have undone themselves. If you have access to the tool that fits the knurled fitting you could investigate, but it's likely got damaged bearings.
I had that several times with (original) Eggbeaters.
It was that the small sealed bearing on the end of the axle had failed and come apart. I got as far as carrying a spare bearing and small 8 mm socket screwdriver bit in my toolkit so I could mend the pedal, rather than having to ride home one-legged.
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