<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-02-19</periodOfReport>

    <issuer>
        <issuerCik>0001374310</issuerCik>
        <issuerName>Cboe Global Markets, Inc.</issuerName>
        <issuerTradingSymbol>CBOE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001999094</rptOwnerCik>
            <rptOwnerName>Foley Stephanie</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O CBOE GLOBAL MARKETS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>433 WEST VAN BUREN STREET</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60607</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>EVP, CHRO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

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    </nonDerivativeTable>

    <derivativeTable>
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                </transactionShares>
                <transactionPricePerShare>
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                </underlyingSecurityTitle>
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                </underlyingSecurityShares>
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        </derivativeTransaction>
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            <transactionDate>
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                <transactionCode>M</transactionCode>
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                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
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            </exerciseDate>
            <expirationDate>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>43</value>
                </underlyingSecurityShares>
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                </transactionShares>
                <transactionPricePerShare>
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                <value>2026-02-19</value>
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                    <value>594</value>
                </transactionShares>
                <transactionPricePerShare>
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            <expirationDate>
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                </underlyingSecurityTitle>
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                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
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                </transactionShares>
                <transactionPricePerShare>
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            <exerciseDate>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each restricted stock unit represents a contingent right to receive one share of Cboe Global Markets, Inc. common stock.</footnote>
        <footnote id="F2">The restricted stock units vest in three equal annual installments, which began on February 19, 2024.</footnote>
        <footnote id="F3">The restricted stock units vest in three equal annual installments, which began on February 19, 2025.</footnote>
        <footnote id="F4">The restricted stock units vest in three equal annual installments, which began on February 19, 2026.</footnote>
        <footnote id="F5">The restricted stock units vest in three equal annual installments beginning on February 19, 2027.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Patrick Sexton, Attorney-in-Fact</signatureName>
        <signatureDate>2026-02-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
