If you have a digital voltmeter, you can check the voltage at the terminals where the hot rod connects to the controller. I am not certain whether this is a DC voltage or an AC voltage, so you might need to check both. If you get a voltage across the terminals then there is a high probability that the hot rod is bad. The hot rod is considered a consumable/replaceable part. You can purchase them online or a some local stores. I know that Ace Hardware stores stock them. They are not covered under warranty.
If you are not getting a voltage (either AC or DC) across the hot rod terminals on the controller, then there is a possibility that the controller is bad. If your grill is still under warranty, contact Traeger Customer Service.
When checking the voltage across the hot rod, someone will have to press the ignite button during the test.