Kralj, at 36 one of the oldest in the field, only just made the top-48 qualifiers and just squeaked into the top-15 final. He turned it on in the final and held the lead until Sutton's run.
The Sickline title remains the only major extreme crown Dawson has yet to win, despite second placings in 2009 and 2011 and now a third, though his disappointment was again tempered by Sutton's performance.
"No one wants to come second or third but I'm stoked to be standing on the podium with some of my really good mates," the 26-year-old said. "If I was to finish second or third to anybody, it would be Sam and Dejan and to see Sam on top of the podium three times in a row is amazing."
And despite the fearsome rapids, Dawson found the event thoroughly relaxing after his Olympic campaign, where he finished 15th in the slalom.
"The Olympics is a whole different level of event. It's huge, it's got so much following, so much media and crowd and for me now to come here or to any other event is easy to stay relaxed and confident and that's something I've brought into this. It's almost like a little bit of a holiday to get back in the boat and back to racing and just enjoying being on the water again."