Here is what the Photon documentation says
"Power to the Photon is supplied via the on-board USB Micro B connector or directly via the VIN pin. If power is supplied directly to the VIN pin, the voltage should be regulated between 3.6VDC and 5.5VDC. When the Photon is powered via the USB port, VIN will output a voltage of approximately 4.8VDC due to a reverse polarity protection series schottky diode between V+ of USB and VIN. When used as an output, the max load on VIN is 1A. 3V3 can also be used as an output, but has a limited overhead of only 100mA available. (Please refer to Absolute Maximum Ratings for more info).
Typical average current consumption is 80mA with 5V @ VIN with Wi-Fi on. Deep sleep quiescent current is typically 80uA (Please refer to Recommended Operating Conditions for more info). When powering the Photon from the USB connector, make sure to use a quality cable to minimize IR drops (current x resistance = voltage) in the wiring. If a high resistance cable (i.e., low current) is used, peak currents drawn from the Photon when transmitting and receiving will result in voltage sag at the input which may cause a system brown out or intermittent operation. Likewise, the power source should be sufficient enough to source 1A of current to provide an adequate amount of current overhead (especially if powering additional circuitry off of VIN).
Warning: When powering the Photon from long wires on USB and VIN, care should be taken to protect against damaging voltage transients. From the Richtek datasheet:
When a ceramic capacitor is used at the input and the power is supplied by a wall adapter through long wires, a load step at the output can induce ringing at the input, VIN. At best, this ringing can couple to the output and be mistaken as loop instability. At worst, a sudden inrush of current through the long wires can potentially cause a voltage spike at VIN large enough to damage the part.
To avoid these voltage spikes, keep input wiring as short as possible. If long wires are unavoidable, it is advisable to add a 5.1V zener diode or similar transient suppression device from VIN to GND. Another technique is adding more capacitance to the input using an electrolytic capacitor. Please refer to AN-88 by Linear for a good discussion on this topic."
So it looks like it wants 3.6-5.5v. I would think that it would still work at 3.3v. Make sure that your power supply can supply at least 1 Amp.