It depends on whether you want the American or British spelling. pedaling - AmE pedalling - BrE CJ
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I am Canada born, now living in the USA. So I may have a little different perspective.
I am not a linguist. But I think it is more correct with one 'L'. No reasons. Just 'I think'!! (one exclamation mark or two or more!)
the answer is simple.
the double l in pedalling tells you that the preceding vowel is a short vowel, not a long vowel.
Like rap rapping vs rape raping, tap tapping vs tape taping.
Pedaling is the British English spelling and pedalling is the American English spelling. Both words are pronounced the same and have the same meaning, so the only difference is the additional l in the American English spelling of the word.