Coherent states of light, and methods for distinguishing between them, are central to all applications of laser light. We obtain the ultimate quantum limit on the error probability exponent for discriminating among any M multimode coherent-state waveforms via the quantum Chernoff exponent in M -ary multi-copy state discrimination. A receiver, i.e., a concrete realization of a quantum measurement, called the Sequential Waveform Nulling (SWN) receiver, is proposed for discriminating an arbitrary coherent-state ensemble using only auxiliary coherent-state fields, beam splitters, and non-number-resolving single photon detectors. An explicit error probability analysis of the SWN receiver is used to show that it achieves the quantum limit on the error probability exponent, which is shown to be a factor of four greater than the error probability exponent of an ideal heterodyne-detection receiver on the same ensemble. We generalize the philosophy of the SWN receiver, which is itself adapted from some existing coherent-state receivers, and propose a receiver -the Sequential Testing (ST) receiver-for discriminating n copies of M pure quantum states from an arbitrary Hilbert space. The ST receiver is shown to achieve the quantum Chernoff exponent in the limit of a large number of copies, and is remarkable in requiring only local operations and classical communication (LOCC) to do so. In particular, it performs adaptive copy-by-copy binary projective measurements. Apart from being of fundamental interest, these results are relevant to communication, sensing, and imaging systems that use laser light and to photonic implementations of quantum information processing protocols in general.The task of optimally discriminating between unknown nonorthogonal quantum states by making appropriate quantum measurements [1-4] is a fundamental primitive underlying many quantum information processing tasks, including communication [1], sensing and metrology [4,5], and various cryptographic protocols [6]. The paradigmatic problem of the so-called quantum detection theory [1] is to determine the quantum measurement, specified by a mathematical object known as a positive operator-valued measure (POVM) [4,7], that minimizes the average error probability in discriminating a given ensemble of states. The mathematical solution to the problem is known in terms of necessary and sufficient conditions that the optimal POVM must satisfy [8], although for discriminating between more than two states, the explicit solution of these conditions has been obtained only in some specific cases [9]. Over the years, the scope of quantum detection theory has been broadened beyond the above framework to ones such as unambiguous state discrimination [10], maximum confidence discrimination [11], and to specific scenarios of interest such as multi-copy state discrimination using local operations and classical communication (LOCC) [12][13][14][15][16][17], using a quantum computer with limited entanglement [18], and in the asymptotic limit of a large number of copies ...