The Gulls scored first in the second period thanks to a goal by Blake Pietila.
The Gulls led 1-0 until Iowa answered back with a goal at 4:16 in the second period. The Wild scored again in the second period at 13:16 to take a 2-1 lead.
Gulls captain Sam Carrick scored on a power play goal to tie the game, with under four minutes remaining in the second period to tie the game up at two apiece.
However, Iowa scored halfway through the third period to take a 3-2 lead, and that turned out to be the final score of the game.
The Gulls and Wild will face off again Friday night at Pechanga Arena San Diego.