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Henry Burns 2Henry Burns 2 

In the Picklist administration trailhead I cannot find the Promote to Global Value set button. It's just not there.

I am stuck on this trailhead. I followed all the steps but the Promote to Global Value Set button never appears. 
Erik Swiderski 8Erik Swiderski 8
You need to make sure that "Restrict picklist" checkbox is checked that limits choices to only the values you specify.
Saravana Muthu 8Saravana Muthu 8

In any picklist you need check the checkbox as shown in below image to promote it to global value set.

User-added image

Below link provides the limitation for global value set.

Please let me know if your problem is solved and please mark this is a best answer if it helped.

Sherrie MooreSherrie Moore
I have the same issue and I do have the "restrict picklist..." check box checked.
Swiderski, ErikSwiderski, Erik
Click “Edit” button to edit field details (next to “Set Field-Level Security” and “View Field Accessibility” buttons). “Promote to Global Value Set” button is on the edit page.